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Gold/Mining/Energy : Winspear Resources

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To: james flannigan who wrote (26171)	7/12/2000 9:33:09 AM
From: Andrew	Read Replies (1) of 26850

Winspear Diamonds Inc - Globe says Winspear doubles estimates Winspear Diamonds Inc WSP Shares issued 51,634,088 2000-07-11 close $4.7 Wednesday Jul 12 2000 The Globe and Mail reports in its Wednesday edition that a "scoping study" released on Tuesday by Winspear Diamonds Inc. predicts that diamond production at its Snap Lake project could more than double from the rate forecast in an economic study completed just three months ago. Reporter Allan Robinson says, however, that for now, exploration is continuing at Snap Lake. Winspear says that a fifth drill rig is being moved to the site and that work continues on an underground bulk sampling program. Vancouver-based Winspear is attempting to fend off a $259-million takeover offer by De Beers Consolidated Mines Ltd. of South Africa or get a higher price than the $4.25-a-share takeover bid. "I fell comfortable that the De Beers offer isn't significantly off, but I think they could sweeten it," says Wendell Zerb, a mining analyst for Pacific International Securities. Newsletter writer John Kaiser hopes De Beers might raise its offer, but suggests holders tender now. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com

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