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Gold/Mining/Energy : Winspear Resources

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To: The Fix who wrote (5326)3/4/1998 2:49:00 PM
From: bill   of 26850
 
Sold 5,000 at 1.08 and put it into a penny oil (WT) at the same price. WT is now 1.80. Wish I'd sold all my WSP and done the same with the money. WSP's giving lots of opportunity to wait and buy back in low.
Talked to a broker who knows a bit about WSP. He says they're puzzled by WSP's drop. Blames Bishop. He doesn't think the price drop makes snese in terms of the companies fundamentals. Property, budget, ec.
I've been in and out of this stock from they first started exploring for diamonds. When it bottoms, I'll buy more. When the NWT play is over for the year, I expect they'll become active in Africa. I think they want a company that isn't restricted to season work. Good strategy as far as I'm concerned.
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