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Gold/Mining/Energy : Winspear Resources

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To: larry_d who wrote (26358)	8/2/2000 11:33:08 AM
From: james flannigan	Read Replies (1) of 26850

Lets remove wsp shareholders from the situation and look at it from a DBRs point of view.If i were DBs,I would have a need to replace my depleting production,thereby bying up future on comming supply.If I found a company where the market placed a low valuation on it,I may make an unrealistic bid to gage the reaction.Chances are even though I may have to up my bid,I still might make a good deal for my shareholders.Givin my sucess in knowledge in the fact it is very difficult to find economic deposits,it is easier for me to sit back and let some small jr find the goods and then me buy them out.If one of those jrs got lucky and stumbled on a world class find,I would be very intrested,yet not show them that Iam exited to buy.I may try to skake down the shareholders of the jr by threatening to walk,and even launch a takeover of another asset as a diversion tactic while my bid is still active.But what would really scare me is that my compeditor may be in friendly talks with my target.If my competition was not in talks with my target ,I still would not want my target to become my future competition. I would relax my position and up my bid before its too late.

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