Statistical Valuation of Diamondiferous Deposits (234b3d94-074c-4426-88d9-9aa16b9808f6)

"The valuation of diamond ferous deposits depends on (i) the density distribution, (ii) the size distribution of stones and (iii) the selling price structure prevailing at a particular time.In the density distribution the stochastic variable is defined as the Dumber of individual stones found per sample unit irrespective of the stone size. The density distribution is discrete and allows for barren sample units.As diamonds often occur in clusters, a Poisson mixture distribution is derived which is entirely new, as existing discrete distributions cannot represent the stone number frequencies found in nature.For the sizes of diamonds, which are measured by weight, a new compound logarithmic normal distribution is developed.Combination of (i), (H) and (iii) leads to a meaningful appraisal of diamond ferous ground expressed in monetary value per production unit of mining.Finally, confidence limits are calculated which allow for inference from sampling to recovery."