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Gold/Mining/Energy : Winspear Resources
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To: whiskeyjack who wrote (10685)12/19/1998 12:25:00 AM
From: D.R.A.  Read Replies (1) of 26850
 
We must wait and see if the insiders that have sold their stock are in the pp. If they are in then I feel that the wsp shareholders should have some more confidence. I believe that some if not all of the pp are flow through shares with a four month hold. I understand that the flow through comes with a write off. The advantage to the insider is that they can write the purchase of their shares off for tax purposes and in turn wsp will benefit by turning insider shares back into working capital for the company. If the bulk sample program is successful and what they think they have is proven then the insiders will exercise the warrants. This will in turn give additional monies to the treasury. ( the insiders will also profit ) I also believe that this will give insiders and friends of the company about 20% of the shares which will make an unfriendly take over harder. As I see it, the leverage in this play is with wsp as operator. Having said all that I also believe that the insiders in question are participants.

regards,

DRA
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