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Gold/Mining/Energy : Winspear Resources

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To: Mr. Oil who wrote (11388)	1/9/1999 8:26:00 PM
From: teevee	Read Replies (3) of 26850

Hi Ray, I will try again: Also, in partial answer to sidhur, I have made my best gains by holding over the course of events. Examples are Diamet and Diamond Fields. Just for fun, I will use a daily cash flow per share comparison, with some assumptions on mining rate for Winspear. Diamet: (29%)(10000 tonnes day)(1.09 carats/tonne)(US$120/carat)/32.7 million shares = $.0116 Winspear: (68%)(5000 tonnes/day)(1.14 carats/tonne)(US$301/carat)/48 million shares fully diluted=$.0243 Share price potential=(.0243/0116)(Cdn$20.00/Diamet share)=$41.90 $41.90 Cdn is a nice target price per share. The way I usually do this is to take 10% of in ground value/share capitalization. Assuming 50 million tonnes at US$301/carat and 1.14 carats per tonne with about 48mm shares outstanding fully diluted, this is:(68%)(50 million tonnes)(Cdn$500)(10%)/(~48 million shares)=$35.40/share In either case, these are reasonable price targets. If packrat doesn't cover, he will be eventually bought in at market by his broker when he can no longer meet margin calls. regards, teevee

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