Winspear to acquire 70% interest in Carot property.
Tyler just paid
500,000 shares for 33% of Carot (at $.2 per share totals $100,000). This implies a total value of $300,000 for 100%, now they turn around and sell to Winspear 70% for 200,000 sh x >$0.90 per share = $180,000 which implies a total worth of $257,143, did Tyler just write off $42,857 in a few weeks or am I not looking at this correctly? Luckily, I own more Winspear than Tyler and exploration will be better run with Winspear, IMO. Does management have the stockholders value in mind or are they on another agenda?
Winspear Resources Ltd WSP
Shares issued 32,726,333 Mar 27 close $0.88
Fri 27 Mar 98 News Release
Also Tyler Resources Inc (TYS)
Mr Randy Turner and Mr Glen Harper report
Winspear Resources and Tyler Resources have entered into an option joint
venture agreement whereby Winspear will acquire up to a 70% interest in the
Carat property in the Lac de Gras area, Northwest Territories. This
property, comprising approximately 94,000 acres, adjoins the northern claim
boundary of DiaMet/BHP's property in the Lac de Gras area, Northwest
Territories.
Under the terms of the agreement, Winspear will issue 200,000 shares in
lots of 50,000, over 18 months and incur up to $2 million in exploration by
December 31 2002.
Winspear will be the operator of the project and will conduct a detailed
airborne EM and Mag survey and a till sampling program over the property
during 1998. The airborne geophysical survey is expected to start in during
April 1998.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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