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Gold/Mining/Energy : Winspear Resources

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To: Bearcatbob who wrote (12212)	1/16/1999 6:47:00 PM
From: teevee	Read Replies (2) of 26850

Bearcat, I will try and list a few for you. 1. Aber has not secured a sale for their share of diamond produced from Diavik. 2. Aber has not secured their 40% share of $850 million project costs. This could mean either share dilution or, if RTP proceeds, Aber's working interest could be drastically diluted. The fact that debt financing doesn't appear to be forthcoming should send a message. 3. Aber is not operator of diavik or Snap Lake. They are not in control of their own destiny. Who knows if RTP will decide to leave Diavik on the shelf for another 20 or 30 years. 4. Winspears implied grades are US347/tonne or US$301/carat. 5. Large top quality gem diamonds hold their price better and can more easily be sold versus the US$65/carat values for Aber.I WONDER WHAT THE AVERAGE VALUE OF ABERS DIAMONDS WOULD BE IF THE LARGER BETTER QUALITY STONES WERE SUBTRACTED FROM THE PARCELS THAT WERE EVALUATED? 6. IMO, Winspear's share price will soon surpass Aber's share price, and then Aber's share price will start to follow winspear's, as Aber has a 32% working interest at Snap Lake versus Winspear's 68% working interest and operatorship. regards, teevee

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