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Gold/Mining/Energy : Winspear Resources
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To: Rocket Red who wrote (9492)11/18/1998 12:03:00 AM
From: bill  Read Replies (1) of 26850
 
Yes, I've talked to RT. I was talking to him when most people
didn't know WSP existed.

I agree that a. WSP needed to do a financing.I've been saying
that for some time now. b. that you should always get financing
when you can rather than you need to. You fill up when there's
the possibility of doing so.

The fact that WSP can obtain financing when most juniors cannot
speaks well for WSP's potential and for management. I don't think
there's any disputing that.

HOWEVER, I think my point is still valid. This interim time in
the diamond exploration cycle is usually a time of falling prices.
Prices generally rise once the drilling season begins. Simply
pull some five years graphs on a half dozen diamond exploration
companies. The exhibit the same pattern.

I'm assuming that the financing is being done at $2.00 because
that's what they can get. Otherwise I'd have assumed they'd wait
for a price spike upon drilling starting, then finance. There
simply may not be financing at higher prices.

Red, you are definitely an enthusiast. I remember all your posts
on MMU and your absolute certainty that there were going to be
diamonds announced. Lots of adrenalin.

And, yes, I, too, know a conservative broker who is enthusiastic
about WSP's chances 8 months down the road. There are lots of
reasons for us to be long on the stock, at that may be one of them.
However, I've bought and sold WSP for many years and I'm very
aware of its trading ranges. Keep in mind that the moment it goes
over 3.00 it is a short candidate. I don't play that game but
many do.

I hope it does go to 10-15 dollars. It happened with ABZ. It can
happen to WSP.
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