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Gold/Mining/Energy : Winspear Resources
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To: russet who wrote (25947)6/26/2000 1:23:00 PM
From: High Grader  Read Replies (1) of 26850
 
I would suspect that DeBeers has had a good look at the geology of Snap Lake and has come to the conclusion that they can find the pipe that pumped all the kimberlite into the dyke, if they drill enough holes. The kimberlite came from somewhere and one of the drill holes is going to hit the feeder sooner or later. At that point DeBeers won't be able to afford the property so they might as well open a bid and see if they can get it now.

I think it will cost them more than this first offer as the potential is enormous and it is known that they have a fat purse and can afford to pay more.

With the state of affairs in Africa, any smart business is looking at getting out of the mess that is unfolding there. What better places than Canada, the U.S and Australia.

They pretty much have to have WSP before someone else Snaps it up, if you will pardon the pun.
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