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Gold/Mining/Energy : Winspear Resources

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To: TP who wrote (11799)	1/13/1999 1:58:00 PM
From: Elizabeth Andrews	Read Replies (2) of 26850

My point is that by WSP saying that they have intersected kimberlite in drill holes doesn't mean very much because they haven't said whether there's any diamonds there yet. We are assuming that is the case and are paying for that assumption not the facts. Very risky in my view. Also, if the current results from the bulk sample are correct and the propesct does have the potential to host large diamonds, then, statistically, the odds are against finding a large diamond in a drill hole because it's such a small sample. What if all the holes only reveal the presence of micro diamonds? Because the drill hole sample is so small it may not mean that the large stones are not there but the fact that they aren't in the drill samples is not going to be taken lightly by the market. In short, the odds of finding a big stone are greatly increased by large bulk samples. But that's not what is happening. Hence, my view is that the probability is that this stock goes lower before we know what the property really holds due to the current sampling method given the fact that the stones from this prospect may have an unusual size distribution. That's two of the red flags.

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