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Gold/Mining/Energy : Winspear Resources
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To: kidl who wrote (9542)11/18/1998 3:26:00 PM
From: Mr. Oil  Read Replies (1) of 26850
 
It won't be too bad if we can buy again at $2.25 but it seems that every NR from WSP sends the stock higher right now. Today we see a major dilution of the shares yet the market says great it must be good to have $10.6 million invested because nobody this rich would buy WSP if it wasn't going to be good. While this may have merit in the long term it doesn't prove up the resource. It just indicates that the speculation is high.

But if it was going to be this good those who really know, ie management would have held off financing until after winter drilling wouldn't they? Values would be much higher presumably and there would be less dilution. The co has bet on taking the bird in the hand rather than the one in the bush yet all the buyers and whoever has done the pp now are taking the one in the bush so to speak.

I just think we are seeing a rush of panic buying going on now for 'fear' of being left off the train as you say but once the realism of the dilution has settled in we will see the stock around $2.00 again. That is where we will be given the opportunity to buy. Unfortunately I don't think I will see my 99 cents again. Oh well! I haven't lost money on this one so I have to keep my perspective. I am still bear short term but not selling one scrap...oh no not again. Would like to ad to my position. Now that I have posted this watch it go. ;)

Ray
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