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Gold/Mining/Energy : Winspear Resources
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To: drj who wrote (17219)3/31/1999 1:13:00 AM
From: Gord Bolton  Read Replies (1) of 26850
 
I think that it was Aber who lost faith when the 1997 program failed to turn up a pipe. Aber had the great big booming rich pipes around Lac de Gras and did not even want to be associated with the pathetic little intersections at Snap Lake while they were raising 100,000,000.00 smackers to fund Diavik.
They treated Winspear like a poor decrepid cousin that they did not want to be associated with. I think that they were prepared to write off their interest in Snap Lake until Winspear announced the chunkers in the mini bulk. Then they wanted in but did not want to ammend their Prospectus as their share price was in free fall.
Thereafter they road the fence. There is no mention from Aber of their being involved in the $12 million dollar winter program. Plausible deniablility if the program did not turn up the tonnage and Aber could elect to be diluted at no cost to them.
Nice game until the tables are turned and Winspear elects to dilute them for failure to ante up.
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