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Gold/Mining/Energy : Winspear Resources

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To: Andrew who wrote (26172)	7/12/2000 10:22:45 AM
From: ddl	Read Replies (2) of 26850

I guess it all depends on who's perspective the value is viewed from. Ours would be NPV and current fully dilluted shares, but BD's view would be NPV and expected fully dilluted shares to complete the 3k tons per day operation, as that is what we are probably looking at if we go at it ourselves. The risk factor is another unknown and it's easy to say it's worth so much at 8% discount, but is a buyer willing to accept 8% on his money over 21 years? So somewhere between best case of 60mm shares @8% and lets says 110mm shares at 8% is probably where it's going to sell for. That's between $7.80 and $15.25. I think a new offer would come in at arround the $7.00 mark either from someone else or DB depending on who really wants it, and DB I think really wants it. The other determining factor would be whether or not Rt and company stay on or does the buyer want to clear house and run it himself. RT would probably fight this buy out scenario.

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