On behalf of many here, I would like to thank you for your postings, James. I was reading through some of the other threads and noticed that some of the ABZ boys were being critical of Winspear, RT and yourself, when they really should be making some phone calls to the ABER office.
None of us should ever forget who the principals are who put up the cash to get a show like this going. I would, if I could, buttonhole the CEO of any company that I invest in and if he did not answer my questions and satisfy my concerns and make me aware of significant impending events when I looked him in the eye, I would not want to invest my money with him.
I think that RT was totally right to discuss the company affairs and upcoming challenges with James and I think that James was faithful to the company and the thread in reporting his conversation. This was not a "material fact" which one could immediately know what the market reactions would be and benefit from. It was simply a challenge and a problem which was known by some and should be known by all. Why should the ABER insiders have more info than the Winspear shareholder?
And having said that, there would be no point in us shareholders paying a fee to participate in SI if we did not pass on our Knowledge and observations to the other participants.
THe best companies will actually read these threads and sometimes even learn something from their shareholders. The worst companies do not care what their employees or their shareholders think.
Now for the dynamics between WSP and ABZ.
Aber has had a love/hate relationship with Snap Lake and WSP for a long time. THe merger between Antler and Winpear gave operatorship to WSP-something that Aber wanted for themselves.
Aber's main focus has been on their other properties and they have been hot and cold on Snap Lake for years. If you go back on this thread or on the Aber thread you will find the debate about whether Aber should split it's assets into separate companies and thereby maximize shareholder value and flexibility.
THere is no doubt that there are very large outside interests in the Snap Lake deposit and there is no doubt that approaches have been made to both Aber and WSP.
I have little doubt that Aber would be tempted to flip their interest in Snap Lake for cash for their other projects and I would be surprised if there was not a certain amount of pressure to have WSP do the same. The big interests would want control or nothing.
Could it be that solid commitments and cash were being withheld to exert pressure on WSP to conform to a certain point of view favoured by ABer?
I think that Sudhir put it best when he said "Do not Jest with Edged Tools". I might add that they may cut both ways.
I have to congradulate the Winspear team for systematically progressing and developing this project in spite of all the obsticles and incumberances, for bringing in the experts that were needed to understand the geology, for acheiving the financial backing and proving up the value and tonnage to the point that they can call Aber's bluff and know that they can get all the financing that they need without being coerced.
It is my own opinion that Winspear shareholders will soon be rewarded for toughing out the little share price drop since Christmas and as has been the case with ARP, rewarded very hansomly.
If we get the tonnage that is projected, the carats per tonne, the value per carat that is projected, and just a few pipes on the Hilltop property-or not- this spring, teevee's price projection for a share of WSP may be understated.
Once the value of the deposit is better known and the price starts moving we might just see some pretty incredible spikes
Good luck everyone and don't forget to soak up some of those cheap shares. |
