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Gold/Mining/Energy : Winspear Resources

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To: Rocket Red who wrote (26073)	7/6/2000 4:46:43 PM
From: james flannigan	Read Replies (1) of 26850

WSP VALUATION, reading the latest data,and with the step out holes,the picture is becoming clear that the snap lake project in terms of a gold deposit will be in the range of 25 million oz.In 1996 Barrick bought Arequipia res for slightly over one billion dollars $C. At that time AQP had about 4 million oz proven resources with about 7m indicated.Barrick quickly moved to takeover the deposit and gave the share holders about C$ 31.00.The reason for the premium was that the ore was very rich in terms of payback.Debeers on the other hand can see that Canadian investor clearly do not realize the value of snap or have an understanding of diamond deposits in general,as shown by the stock prices of diamond jrs.If this were gold and not diamonds the brokerage houses would be falling over each other upgrading the shares.Randy Turner on the other hand does know what the future value of snap will look like, and so does DBRs.To offer us .15 cents on the dollar for our ground,is to insult us with extreme stupidy.I hope all WSP share holders will join RT and tell DBRs to go strait to hell and don't waste any more of our managers time,we are busy building a mine as well as creating value for all of our futures. James

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