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Gold/Mining/Energy : Winspear Resources

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To: Rick Hawke who wrote (21083)	6/19/1999 11:41:00 AM
From: mineman	Read Replies (3) of 26850

1998: 200-ton sample (Pits 1+2): - the 3 largest stones averaged $2,000/carat - other 18 stones between 1 and 5 carats averaged less than $50/carat 3,000-ton 1999 sample (Pit 4): - 88 stones were over 3 carats, so at least some of them should been valued at or near $2,000 per carat in order to indicate the three $2,000/ct. stones were not added to the 200 ton sample. But no values were given indicating NONE of the 88 stones averaged anywhere near $2,000/carat and most likely averaged close to or below $50/ct. (The average was $98/ct. but the 200-ton sample showed that the majority of the value was in the smaller stones under .5 carat) If ANY of the 88 stones valued close to $2,000/carat this information would almost certainly have been included in the June 18th release! By not giving these values it strongly indicates none of the 88 stones average anywhere near $2,000/carat and most likely are all valued less than $50/carat. Management can refute this assumption by releasing the value/ct. of each of the 88 stones which weigh over 3 carats.

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