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Gold/Mining/Energy : Winspear Resources
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To: George J. Tromp who wrote (5109)2/8/1998 1:14:00 PM
From: The Fix  Read Replies (1) of 26850
 
George.....The deBeers thing (JV) I've heard as well. So I think that your source must have some credibility to it. It's deBeers thinking that they will buy into a minority holding of each property. WSP wants to run the show and ABER will be bought out completly if and when something is found. Just as on Munn Lake, SUF will call the shots and IAR and KLA will be bought out by deBeers.

I'm hearing that ABZ is concerned about it's burn rate with cash in the next fee years. This move was done for two reasons:

1. The differences in styles for exploring for diamonds 9Between ABZ and WSP).

2. ABZ just got feed up for payin for the above WSP method and wanted to perserve cash for the next few years. The thinking is that they will get money back if a discovery is made from the sale of interest to deBeers.

Fixer
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