Louisville, Ky. – Will diamonds be forever?

The world will find out when Canadian diamond magnate Charles Fipke, the most prominent Canadian involved in the 134th running of the Kentucky Derby, sends out Tale of Ekati to compete in the 1 1/4-mile race this Saturday at Churchill Downs.

The post-position ceremony for the famed race was held in downtown Louisville in the Fourth Street Live district this afternoon.

After drawing 17th pick at the traditional “pill-pull” earlier today, Fipke was disappointed and felt he would not get a quality starting post for his bay Kentucky-bred, listed at 15-1 in the morning line.

“I was sad when we drew 17, but relieved when we could break from inside,” said Fipke, born in Edmonton, but now a resident of Kelowna, B.C.  “I was happy with two.  We looked at the statistics in the Almanac and saw the most of the winners of the race came from the inside; one, five, two, somewhere inside.”

Fipke was in the spotlight when he walked up to the drawboard to choose his post as a gust of wind blew several placards off the board and landed at his feet.  Chortles came from the crowd, and some horsemen raced up to the stage and placed their silks in more favourable slots, which also drew laughter.

“I would be proud as a Canadian to win the Kentucky Derby,” Fipke, who pointed out that Canadians like Frank Stronach and Eugene Melnyk are already prominent on the international horse racing scene, said.  “I’m Canadian through and through.”

Fipke spends most of his time in B.C., but is also busy mining for diamonds in several locales, including Ontario, Quebec, Morocco and Greenland.

Fipke became interested in horse racing after watching the great Secretariat sweep through the Triple Crown in 1973.  “That was my inspiration, when Secretariat won the Belmont (third jewel of the Triple Crown) by 31 lengths.”

Now he wants to win the first gem of the three-race series himself. “This (the Kentucky Derby) is the greatest race in the world and to win it would be just fantastic.”

Tale of Ekati, who goes into the Kentucky Derby with a win in the Wood Memorial Stakes at Aqueduct last time out, is trained  by Barclay Tagg. “(Tagg) puts a lot of effort into his training. That’s what I like about him.  Tagg won the 2003 Derby with Funny Cide.

Woodbine racing fans will be familiar with Fipke, who raced Perfect Soul to a Sovereign Award turf title in 2003, under the tutelage of Hall of Fame trainer Roger Attfield.

When asked about the Queen’s Plate, the most prominent horse race in his native land, Fipke said he has that as a goal as well.  “I want to win the Plate too.  I told Roger that.”  Fipke says his best prospect for this year is Not Bourbon, second in the Achievement Stakes at Woodbine in early April.

The 3-1 favourite for the Kentucky Derby is Big Brown, whose connections also drew gasps from the crowd when with the 16th pick, chose post 20.