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Gold/Mining/Energy : Winspear Resources

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To: wayne cath who wrote (26465)	8/11/2000 9:16:10 AM
From: kidl	of 26850

Post says market sells on Winspear’s good news Winspear Diamonds Inc WSP Shares issued 51,634,088 Aug 10 close $4.23 Fri 11 Aug 2000 In the News The National Post reports in its Friday edition that embattled Winspear Diamonds says the diamond-bearing mineral resource at its Snap Lake project in the Northwest Territories has been more than doubled by exploration since last September’s estimate. The Post’s John Schreiner writes that the announcement, aimed at staving off a hostile bid from De Beers Centenary AG, was not well-received by investors. Winspear shares fell 52 cents to $4.23, just below the De Beers offer, on heavy volume of two million shares. Canaccord Securities analyst Andrew Muir commented that the good news fell on deaf ears and that all the market wants to hear is a competing bid. Winspear chairman Hugh Morris says several parties have signed confidentiality agreements to look at Winspear’s data, but he declined to name the parties. Investment sources say a bid must surface by Friday, Aug. 11, to stop shareholders tendering to De Beers’s bid. Industry speculation suggests Dia Met Minerals and Australia-based Ashton Mining may be interested. © Copyright 2000 Canjex Publishing Ltd. stockwatch.com

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