Author: WillP -- Date:1999-03-13 12:11:56
Subject: Swatting Flies
Greetings:
Time to swat a fly or two.
Fly #1. A rumour surfaced yesterday afternoon on SI's Winspear Resources
thread concerning Aber's default or lack of participation in the Snap Lake JV
again this spring.
Ain't so. Source? Aber's Vancouver office, at 3:30 PM PST. Categorical,
unequivocable, total rejection.
Comments: Rumours like this do neither Aber or Winspear any good. I can see
an obvious negative impact on Aber's share price. That's clear. But the rumour
does Winspear no good either. There's a clear message...had it been true...that
Aber thought so little of the Snap Lake project, that they declined to participate.
Also, it's my understanding of the way the JV operates, that any junior partner's
share (Aber's here) of the expenses isn't due until the end of the program.
Suggestion: You might consider asking someone at the Winspear office about
this matter, or similar ones, before posting them.
It's an ill wind that blows nobody any good.
Question: Aber's office was more than curious as to the source of the rumour. I
wonder why. Any ideas who this rumour might benefit?
Fly #2. "The Source" was an excellent book by James Michener many a year
ago. That's all the term means to me. Nevertheless...rumours abound about
finding 'the source' under Snap Lake abound. Why? Of what use would even a
fairly large pipe (by NWT standards, 10 million tonnes) be under Snap Lake?
If the priority is drilling from the ice to delineate the dyke...OK. I understand the
urgency...spring's coming if not already here. Why waste time looking for a pipe
under Snap Lake at this point? Of what use could it be? If the source is land
based...possibe...then drilling for that can wait until later, along with much of the
north shore.
Mining a good sized pipe under Snap Lake would require dykes of the same
order of magnitude as those of Diavik...and at a similar cost. And that's assuming
the 'source' is within 1 or 2 hundred metres of land in shallow water.
If not...then it would have to be mined underground. I don't see the advantage of
tunneling through 2,000 metres of kimberlite from the NW peninsula to reach a
pipe immediately. I will grant you a portal from a nearby land point is possible.
Maybe those who ardently support the 400 metre down 'failed pipe' idea would
benefit from looking at the dimensions of Aber's 4 pipes at a depth of 400
metres. It's possible there's a big source...but not terribly likely. That's from a
geological standpoint.
I just don't see Winspear wasting time and resources that belong to a (probably)
viable operation...chasing a pipe dream.
My opinion of 'Fly 2' is just that. My opinion. As always, I'd welcome contrary
opinions supported with sound reasoning that might convince me otherwise.
There just seem to be so many still worrying unduly about a Snap Lake pipe
hosting maybe 5-10 million tonnes. Whoo-Hoo! Five million tonnes.
Am I missing something?
Regards,
WillP |
