George,
I forgot about the broken promise to issure NRs every two weeks. Thanks for reminding me of that.
What I wanted to do as an exercise is to figure out the worst case scenario. It's easy (well, not that easy) to crunch numbers based on pipes with X amt. of $$ per ton. But what if Snap Lake turns out to be just a bunch of vents with no big source? What is WSP worth then?
Supposed WSP announces a budget of $4 million for their share of the winter program, leaving the treasury with, say, a couple million bucks by Dec. '98. What's WSP worth then? There are properties that Antler had, there are other Camsell Lake area properties, and there's the JV with Samarkand and SUF. I think there may even be some Russian properties. Any idea what all this adds up to per share? I'm not sure how many shares OS there are at this moment - something like 30 1/2 million? If you've got $2 million left, that's 6 cents a share. In the worst case scenario you at least don't have to worry about the options getting exercised and any dilution from that. ;-)
I think it's a good exercise to figure how much money you can lose instead of how much money you can make. Wish I'd done that in March. Well, it's good to figure out both sides of the coin, I guess.
Are we at a point where WSP can't go down much lower- i.e. low risk - or can we end up being a 10 cent stock if Snap snaps?
MPV:
Though I only own MPV in my Stock Contest Porfolio in Eric's contest, (the only one of my entires that is up) it seems to me that the market probably won't really think about DeBeers being the Capo de Tutti of the JV if the diamond counts and values are good. And instead of assuming that DeBeers will sit on those pipes in their pipe portfolio, there's the distinct possiblity that they will go full speed ahead to keep a higher profile in the NWT and show the world that they're a big player. Assuming that being the operator is going to put the brakes on the stock price, is, I think, and assumption that may not be true. Since I don't own any, I don't really care, although I do agree that what's good for any NWT diamond player is good for all the players.
And Chuck, perhaps you should take that huge erection of yours and stuff it up your ballot box. That's what the Japanese do when they have a big erection - they go to the polls. But if there's a recount and there's a check of your erection results, people might discover why women are such poor judges of distance. That's because they've been told for so long that [__________] is 12 inches long.
As to my "whining" about management, I feel like Julio Gallo would feel if he owned WSP stock. You know how WSP makes Gallo wine? They squeeze him by the balls. WSP doesn't have to do that actually- they just have to keep issuing options.
Well, back to the valium drip. |
