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Gold/Mining/Energy : Winspear Resources

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To: George J. Tromp who wrote (6553)6/27/1998 11:42:00 PM
From: bill  Read Replies (1) of 26850
 
George, Don't know if you get the FP in the far and mysterious southland so here is a few pieces out of an article by Wlliam Hanley.

"A diamond of a PR opportunity"

"It is generating nowhere near the excitement of the good old days of Bre-X, Voisey's Bay, Eskay Creek and a dozen lesser plays but the WSP diamond play sent a much-needed buzz through the VSE this week.

Wile WSP and its results from the NWT will not a Voisey's make, for the desperate VSE and the mineral exploration community surrounding it,WSP gave a glint of hope even as the Alberta diamond play looks increasingly flawed.

...
While these initiatives should attract some new business, the VSE's future is largely in the lap of the gods. A major question hanging over the exchange is whether the gods blessed Alberta with diamonds enough to keep that play going and perhaps eventually produce a mine.

The focus there is on ACA...

Though ACA is listed on Toronto its discovery has triggered an Alberta diamond rush by dozens of small VSE explorers. None of them have been able to come up with anything resembling ACA's results. So ACA has to produce to keep the play intact.
...
Ettlinger says WSP faces a different problem with its NWT property. Results this week showed the property has "world class diamond occurances with world class stones.," Further exploration and
testing must reveal whether there is enough tonnage to warrant more development.

WSP accounted for about 20% of VSE volume this week. On Thursday, when the latest results were announced, volume of 7.1 million shares was about 30% of the VSE's total.

...Brian Fagan, who publishes the Fagan Report newsletter, was impressed by WSP's results. But he worries that ACA will have to come up with some impressive results of is own soon to keep the Alberta diamond play alive on the VSE."

There also was an article on SUF headlined "SUF to buy out Randgold's Mrsfontein right". I don't follow SUF but I know you do. I expect the
information is old stuff to the SUF thread. SUG to pay 16 million for the Marsfontein diamond find. Gives them 40%. Rest of the article
sounds like DeBeers didn't manage a knockout punch but they sure
got a right jab and left cross in along with some blows below the
belt.

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