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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
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To: bree123 who wrote (53614)7/6/2000 8:38:05 AM
From: StocksDATsoar  Read Replies (1) of 150070
 
Winspear Diamonds Inc -
Post says Winspear looks for white knight
Winspear Diamonds Inc WSP
Shares issued 51,634,088 2000-07-05 close $4.42
Thursday Jul 6 2000
The National Post reports in a Reuters dispatch in its Thursday edition that Winspear Diamonds is trying to enlist a white knight in its efforts to fight off a $259-million takeover bid by South Africa's De Beers. Lesley Wroughton of Reuters writes that Winspear has opened its files to third parties as it tries to rebuff De Beers, which is seeking to expand its role in Canada, an emerging diamond producer. The Canadian junior also says it is financing a comprehensive value program for the promising Snap Lake diamond project on Camsell Lake, 220 kilometres northeast of Yellowknife, the Northwest Territories. With the program, Winspear wants to show its shareholders the potential of Snap Lake, forecast to produce about 1.9 million carats a year, hoping they will not cash in their shares to De Beers's offer of $4.25. President Randy Turner says the offer significantly undervalues the company, even though the offer was significantly above the preoffer price of $2.40. The Snap Lake project has gone through a prefeasibility study, which indicated a minable resource of 12.6 million tonnes.

(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
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