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Gold/Mining/Energy : Winspear Resources
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To: Andrew who wrote (26028)6/27/2000 11:50:00 AM
From: teevee  Read Replies (2) of 26850
 
Andrew,

Work continues at Snap lake and contractors need to be paid, regardless of DeBeer's offer. The only short term source of additional cash to meet ongoing expenditures are options and also the warrants from the last private placement financing. If I remember correctly, those warrants were set at $2.75 and would raise about $7 million.

Luckily for WSP, the market has made those sources of funding immediately available. If they are exercised, it could impact on the need for the recently announced public offering.

regards,
teevee
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