Will
No particular significance to this, I just picked a convenient post to hang a question on.
I can't believe what I'm reading in the SW report on Kaser's bottom, and the correction. I think the guy has finally lost his marbles. I'll print it here so that you can see what I/m talking about, although I'm sure you've already seen it.
Kaiser says Winspear results better, but still not enough
Winspear Resources Ltd WSP
Shares issued 39,238,388 Jul 26 close $2.83
Tue 27 Jul 99 In the News
John Kaiser, writing in a July 24 Bottom-Fish Tracker, says the latest
results from Winspear's 6,000-tonne Snap Lake bulk sample represent a
slight improvement over the first batch released in late June. Mr. Kaiser
recommended selling Winspear on June 20, saying the earlier results were
not good enough to boost the market. "If you can sell above $3, do so," he
wrote. He also advised selling 25 per cent of the stock on June 11, and 25
per cent on Jan. 8 this year; he recommended buying Winspear three times in
1998, between 52 cents and $1.43. In the current report, Mr. Kaiser says
his words of caution on June 20 were lost on the "Winspear Dreamers," who
bought 2.7 million shares and prevented the stock from slipping below
$3.20. It closed on July 23 at $3.30. Mr. Kaiser says he waited a week
after the results to comment on them to avoid charges he has affected the
price. The letter writer says Snap Lake may eventually produce $1-billion
in diamonds, but at $180-$200 (U.S.) per tonne, it may take decades to
reach that amount. AT $3.30, the market is saying the net present value of
Snap Lake is $200-$250 (U.S.) per tonne. Mr. Kaiser also calls the
Diamondex spinoff a "huge mistake," which left Winspear stranded as a
feasibility study play.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
If I understand the words, and I think I do, this arrogant gentleman is complaining because enthusiasts, which he calls "Dreamers" kept on buying when he said "Sell", and that was what stopped his forecast fall in price from fulfilling his goals.
Can you verify that is what he actually said, and not some fevered imagining of the Business Reporter like the NPV measured in per tonne increments????
I would be most interested to hear your comments on this?? |
