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Gold/Mining/Energy : Winspear Resources
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To: The Fix who wrote (3424)10/12/1997 9:50:00 PM
From: HARLEY II   of 26850
 
Dear Fix,

I think the real reason WSP dropped was that the insiders and their circle of buddies knew long ago that there was no pipe to be found in 1997. so they dumped and dumped and dumped. Only one insider actually bought any shares in the market.

When the Cannacord house position starts netting over a subtantial period I will add to my position. This will of course follow the options being set and maybe a few cheap private placements to insiders and their buddies.

As you point out Winspear still has plenty of cash in the treasury so there will be a winter drill program in early 1998.

In reality, registering ones shares will not really make any difference at these prices. People like to hear it said but there is no point at these low price levels given the huge float on the stock.

Best Wishes

HARLEY

P.S My source is certainly not a moron he knows more about this business than anyone else I know.
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