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Gold/Mining/Energy : Winspear Resources
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To: Gord Bolton who wrote (16282)3/21/1999 6:14:00 PM
From: Lilian Debray  Read Replies (4) of 26850
 
Honestly, Gordon, what do you call that?
"0.125 of a share of NewCo"

I admit it took me a while to figure out where that 1/8 came from. The news release carefully avoids the fully diluted number of number of shares in each company and the "C" word. They have put nice pictures of the drilling at their home page but have not updated the share structure information since June 98.
winspear.com

I should have entered the value/share and changed the value for the Newco at the end but I did not have much time to spend on that post.
Let's suppose that today I own N shares of Winspear. After the split, the value per share of the New Winspear is a, the value of NewCo is b. The current value of Winspear= a+b. I own N(a+b).
Message 8430740

A lot of people have some idea of what is going on. Either they have not completely figured it out yet or they are also carefully avoiding the word "consolidation".

Message 8428543
Message 8430444
Message 8430283
Message 8430355
Message 8430285

As I see it, WSP shareholders can either
- call their Company on the swindle while they can. That's what I would do.
- continue to waste time posting dumb things about Kensington Resources as retaliation.

That's their business. Either way is fine with me.
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