Hi Tomato: I see alot of spin doctors have tried to make a case for
selling Winspear or at least questioning the current position of the stock. Let me say this on the outset., anyone can find reasons to buy
sell or hold a stock for any number of reasons. I view Winspear as a
HOLD. The geology is conducive to an economic discovery., albeit it has unfolded at a snails pace. I believe Winspear has been more than
fair in releasing information concerning the prior drill program.
All the drill holes are on the map including the 5 after 186. One hole
was close north of 55meter offset. It would appear the others extend
into the lake on a line towards the dyke system. As far as the re-pricing is concerned., until I see a copy of the program., I will
refrain from jumping to conclusions. The Insider activity is neutral
at this point. I think it is ultruistic to believe Mr. Lucas motives
were anything more than what FIX has referred to as "taking some money
off the table" given the snails pace unfolding of the geology. If everyone feels Winspears motive was to screw the investor., a case can
be made why Lucas didnt liquidate all his holdings. Some of the other
insiders hold considerable positions., RT still holding all his shares., as well as McDonald and Greig with sizable positions One thing for sure can be concluded before the drill program started these individuals didnt hesitate to pay up for Winspear., so you be the judge as to whether
their was a sinister plot or these are people that believed in the potential of Snap Lake.
Considering drill holes cost around 200.00/ft, I think they are being
very prudent with the way the money is being allocated given the complexity of the geology.
I believe JV expednitures will be around 3.1Mil this year.
I think these issues were covered in the past as well.
Seeing you brought up the money which Debeers is spending., I believe
if you investigate further., the 4.7Mil is the culimation of a few years of exploration for Debeers to earn in to the holding.
Getting back to some prior comments on Gerle. If one were to compare
both programs., which do you think was the most above board? Gerle
chose not to release any information thru their program., on the other
hand., I believe WSP maps pretty much pinpoint the activity on Snap
Lake. I think there has been some pretty harsh crticism towards Winspear on this thread which is unjustified in comparison to some other programs which are ongoing in the NW territories. If one wants
to invest in Gerle he is taking a big risk of title to the property as
the section 84 appeal has not been handed down. And frankly the geology hasnt shown the diamond counts anywhere near Winspears counts.
As far as MPV is concerned a lot in the past., concerning 5034 and the
hype job management did concerning its potential when several references were made to 8.4Carats per ton and great diamond quality.
In reality 2.0 odd carats and inferior stone quality proved the norm.
As I recall Mr. Shartga didnt hesitate to cash in on the hype as well.
So dont believe the golden egg theory as purported by Tom. Maybe both
will do well in the future., but my theory is buy the Geology and early results. Early results show high diamond counts., and if one
is patient I think the source or sources will be found. There will be
another year of work on Snap Lake., with 8 mil in cash and probable
drilling in the lake this winter., no one will be talking me out of my
shares.
George |
