STREET WIRE
Winspear Resources Ltd -
Kaiser says Snap Lake explorer a strong buy
Winspear Resources Ltd WSP
Shares issued 32,751,333 1998-09-28 close $1.13
Monday Sep 28 1998
John Kaiser, writing in a Sept. 28 Kaiser Express, says Northwest Territories diamond hopeful Winspear Resources is a strong buy at under $1.25. Mr. Kaiser recommended Winspear in February 1997 at $3.61, again in December 1997 at 84 cents, and again in June 1998 at 52 cents. The latter recommendation was made shortly before Winspear produced attention-getting results from its Snap Lake property in the NWT. Those results sent the stock soaring to $2.04 on June 29 before retreating amid a poor speculative market. In the current report, Mr. Kaiser cautions that Snap Lake represents an engineering challenge. "A pipe in the middle of Snap Lake would make the Diavik engineering task look like child's play," he writes. The letter writer quickly adds, however, that the stock, $1.05 at the time of writing, is extremely cheap given its potential. Calculating an implied project value of $57-million, Mr. Kaiser wonders aloud what is holding back investors. He expresses optimism that a "different type" of investor from speculators and bottom fishers will begin buying.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
MM |
