Winspear Resources Ltd WSP
Shares issued 32751333
1998-06-22 close $1.19
Tuesday Jun 23 1998
John Kaiser, writing in a Bottom-Fish Tracker report of June 19, says on June 15 Winspear Resources released "the most exciting results we have seen in the Canadian diamond play." Mr. Kaiser, who has made a specialty of Canadian diamonds, recommended Winspear in February 1997 at $3.61 and again in December 1997 at 84 cents. It closed on June 19 at 61 cents and Mr. Kaiser says WSP represents excellent value at current levels. The latest results compare favourably to those of other big Canadian diamond players, he says. A mini-bulk
sample totalling 199.7 tonnes yielded 228.9 carats that included 21 stones greater than one carat, Mr. Kaiser comments. The three largest stones weighed 10.87, 8.43, and 6.03 carats, "which is phenomenal considering the small size of the sample," he enthuses. "This is one of the rare moments in the market cycle when it is advisable for investors to be prepared to average down," he suggests. Mr.
Kaiser cautions, however, that the qualifications of the person that assessed the stones was not made public. Further, he says, the term gem quality can encompass a broad price range and that the samples did not originate from a systematic grid. |
