Hi George,
Here is an extract from the article I told you about:
From November issue of Smart Money, pg 2&3.
. . . Thanks to recent developments, Winspear Resources is out best bet right now for giant gains. The company was one of the early explorers for diamonds in the Northwest teritories. It has limited luck at first, finding two kimberlite pipes which turned out to be sub-economic. Kimberlite is the type of rock that hosts the most valuable diamond deposits. It is usually found in "pipes" that are actually ancient mini-volcanoes.
As we reported last issue, the company has now found diamonds on the till samples it was sifting from the priority target area on its main property. That almost never happens. Explorationists consider themselves lucky to find garnets and other indicator minerals that are associated with diamonds. (Winspear has already found plenty of these.) In addition, the team found a number of kimberlite boulders. A small sample from one of them yielded two micro and two macro diamonds. It
would be dangerous to start extrapolating too freely, but that is an incredible rich concentration. The company has employed a couple of Russian geologists as consultants. Siberia and southern Africa have been the main producers of diamonds and the Russians have built up a considerable knowledge of diamond exploration and mining. One of these Russian PhDs says that the kimberlite found by Winspear is identical to that at a recently discovered pipe in Siberia. If what we heard about
that pipe's grade is correct, then it would be by far the richest in the world.
Assuming that a comparable pipe exists on Winspear's ground, insiders are talking about a deposit valued in the tens of billions of dollars.
Winspear has 32.5% of the property and at its recent elevated price still has a market cap of just $38 million Canadian. So you can see that there s room for further gains. In fact, if things pan out, this could be one of those 50 or 100 for one winners. . . .
Well George, based on this article and the recent developments, I think it is worth following the Winspear story until the end...
Adrien |
