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Gold/Mining/Energy : Winspear Resources
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To: Bob Fairchild who wrote (25676)4/11/2000 1:43:00 PM
From: teevee  Read Replies (2) of 26850
 
Bob,

From CSW:

Subject: Silver lining:-))

First of all....it looks like my take of this situation was 100% wrong, according to the ruling.

Second, the silver lining is that Aber was ordered to cough up $4 million within 30 days. Of course they will also be paying on an ongoing basis, their 32% of the costs of the program for this year so I don't see where WSP will have to do anymore financing in the immediate future.....or is Aber going to start dragging its feet and being adversarial all over again in the faint hope of deferring or delaying Snap Lake until after Diavik is up and running?....was that their original strategy?(I shudder to think where we would be if WSP hadn't achieved operatorship and control)....sigh...oh well....Winspear has managed to finance and move Snap Lake forward in spite of Aber's apparent intransigence....er....foot dragging....assuming Aber behaves itself from now on, I can't help but think how wonderful it is when you have a minority partner like Aber with that big fat treasury and the apparent ability to raise hundreds upon hundreds of millions when and if they so choose and as needed. I expect Aber will have to put in a stationary order for more pens, envelopes and stamps now that they will have twice as many cash calls to write checks for on an ongoing basis:-))

regards, teevee
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