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Gold/Mining/Energy : ABER RESOURCES

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To: The Fix who wrote (862)	12/2/1998 10:35:00 AM
From: teevee	Read Replies (2) of 2006

Hi, Thanks for posting the Forbes article. <<<<<<<<<At $5.30 a share, buying Aber is the equivalent of buying rough diamonds for $21 a carat; the average value of the mines proven reserves is double that.>>>>> So the average value of Grade is US$42.00 or about CDN$65.00/carat for Aber. If we accept, for the sake of discussion, Dr. Bob's inferred tonnage of 48 million tonnes, and the grade of 1.14 carats per tonne, and assume the evaluations stand up at US$301.00/carat, given that WSP has about 48 million shares outstanding (fully diluted), it appears to me that buying Winspear at CDN$3.00 is the equivalent of buying rough diamonds at CDN$4.00/carat (68%interest); the average value of Snap Lakes inferred reserves (undiscounted and in ground)is about CDN$340.00 per WSP share. Aber's 32% interest in Snap Lake should support the share price from here; as Aber also has about 48 million shares oustanding (fully diluted), the average value of Snap lake's inferred reserves (undiscounted and in ground) is about CDN $160.00 per Aber share. regards, teevee

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