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Gold/Mining/Energy : WillP Speaks on Winspear
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To: Tomato who wrote ()3/1/1999 6:55:00 PM
From: Tomato   of 177
 
Author: DiamondWillie -- Date:1999-03-01
15:13:53
Subject: SIgh....no SI

SI is down, so this is it. No irrelevant or worse
posts to click past. So, in the interest of
keeping interest alive, here's a post.

Here's a question or two. What will happen
when certain employee's and officers are free
to sell their shares on the open market? I
understand that a lot of shares held by insiders
are going to be newly tradeable in the next
couple months or so. If you are a director and
have paper profits, do you sell of hold for the
home run? Does it depend on what you know
that we peons don't know? Will sales by
insiders be a weight on share price
appreciation?

Talk amongst yourselves.

Author: WillP -- Date:1999-03-01 15:44:42
Subject: "Short" Answer

Diamond Willie:

I don't think it will have an impact. My *guess*
is that the vast majority of shares from the
private placement will be held.

Cheap options and such are an easy way to
provide suitable remuneration to key
employees and executives. I suspect there's
more than enough of those kicking about to
provide an income for them.

Judging from the attitude of the key Winspear
players...my guess is they're holding for a
homerun.

There were 5 million shares and warrants
issued, as I recall. Pattison acquired just under
2 million of them, and Winspear insiders
account for roughly another million. That leaves
just over 2 million unaccounted for. Canaccord
and crew??? :-)

I don't expect any pressure from the major
players to sell just yet. If you look at Turner's
holdings...it's not his style, for instance.

In the worst case scenario...insider data shows
bad results...that news would have to be
released to the public before any major insider
selling took place. Or...woe betide the insiders.
:-)

I'm more comfortable with these guys holding
the vast majority of the private placement...than
a bunch of retail investors...or daytraders. :-)

Regards,

WillP
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