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Gold/Mining/Energy : Winspear Resources

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To: .Trev who wrote (26277)	7/22/2000 9:04:14 PM
From: Tony from Niagara	Read Replies (1) of 26850

An open letter to Winspear, We have about 60 million fully diluted shareholders holding shares trading at about $4.50 for a market capitalization of about $270 million. We need about $270 million to finance Phase 1 of the commercialization of Snap Lake – query is this net of the Aber contribution. Perhaps, we could offer to sell to the existing shareholders, pro rata and with rights to take up any deficiency, one share for each share held at $2.50 coupled with a debenture share valued at $2.00. I for one would subscribe. And I suspect most others would do so too. At worst we would be left to the chartered banks to make up the difference. Regards, Tony

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