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Gold/Mining/Energy : Winspear Resources
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To: Sam who wrote (5995)6/9/1998 4:03:00 PM
From: bill  Read Replies (1) of 26850
 
Saw an interesting TV program on diamond mining. Gave an overview
of the history but also some good close ups of how large scale
diamond mining is done in SA. Having watched that I now understand
how exceptional it is that some core in the NWT have had visible
diamonds. They blast those underground tunnels and the kimberlite
is reduced to dust and boulders and is then crushed. Nary a diamond
to be seen. Nice pictures of some famous diamonds. They made a point
of the importance of "blue" diamonds. The creme de la creme.
WSP claims to have "blue" diamonds. If the bulk sample holds up in
the number of carats and then in the number of coloured stones
RT may be justified in spending 3 million bucks on Snap Lake. Sure would have helped if we were privy to ABZ's reasoning that led to
the conclusion that there is nothing economic at Snap Lake. One
assume they're not stupid. They're certainly experienced. For RT
to come to a 3 million dollar different opinion means there
has to be a completely different evaluation of the data. I asume
he didn't come to his decision on his own. Surely, he would not
have gone ahead without the support of his geologists?

There were choices. He had bags of money. He could have easily
said to the public "ABZ says there is nothing economic at Snap
Lake, therefore, I'm going to move on to other properties. Sorry
for the delay but I'm doing what is best for the shareholders."
There would have been a downturn in price, some disappointment but
very little argument. He could even have announced futher
exploration this summer. Instead, he made the decision to go ahead.
Sure wish I had access to the ABZ position paper and the WSP position
paper.

I see tha WSP has reached the lofty hight of 50 +4 so far today. If RT proves right, we're all going to be saying, "I could have bought all
I wanted of that stock at 45 cents."
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