Hello Fix: I think there are a lot of reasons for the Aber decision., which the newsletters havent picked up on.., DeBeers wants to
do business in the NWT. DeBeers as well wants to market diavik stones., they would be crazy not to. wining and dining and 2 oclock
martinis have occurred recently. The preservation of cash concerning
Aber and Winspear is another method for Aber to still have a piece.,
keep their future financings in line to attract investing for Diavik. The
Greenland program in my opinion is a smoke screen first to free shares
of Winspear for the Bishop play. The real story is yet to be told., and
that is the exploration deals Aber may have in the works with DeBeers.
We will see., DeBeers does want to improve their image in Canada.,
and promote exploration as well as protect their interests. Canadian
exploration in earnest is in full swing. Down the road DeBeers will
have to make some moves., each day Diavik gets closer to production., their hand will be forced. A takover target., none better
in the mining industry No majority stakeholders as well. I see one of
2 things developing here., Kennecott will bid., DeBeers ., and BHP.
Take your pick., and speculate all the ramiifications., the options.,
are endless. Hell maybe Ashton of Australia., CRA., would get involved who knows for sure. But Aber doesnt have that poision pill
for nothing. Each opportunity the share price in Aber shows weakness I will be adding a little. Dont care if it take 2 yrs., or 3. or
4. If a buyout transpires., you will see fair market., if not I will wait til
production.
You can look at the Winspear thing several ways., first the pullout
may be viewed by the cynical as an assessement of Snap Lake by Aber.
My first gut reaction was to think the same., however the more I started thinking some of the reasons through., the more I became convinced it was a snap decision., pardon the pun., but a decision
eminating more from shareholder concerns that hold Aber refrain
from unnecessary share issuances in a poor Aber share market .
So Aber can sit with 31% of Haywood block., keep their diddy going
in Greenland., and the least talked about 100% diamond claims
on Victoria Island could advance as well. JV or other.
I think as well that Aber is not on the same page as Winspear.
If Winspears strategy is to slow down exploration to force Abers
hand., they did just that. The upside here of course is one can own
less shares and get a big kick., when the discovery comes. Or if one
really gambles., he can up his position. I have chose to take some off
the line., having loaded up at .70C., so around 25% less exposure should provide the same results with some money off the table.
That is the way I currently read the situation. The geology as well.,
has not changed maybe a few perceptions may have., I dont know.
I am in for the drilling on this one.
Sincerely
George J. Tromp |
