Kaiser says a Winspear win would hurt exploration
Winspear Resources Ltd WSP
Shares issued 33,721,333 Apr 15 close $3.65
Fri 16 Apr 99 In the News
Also Aber Resources Ltd (ABZ)
John Kaiser, writing in an April 14 Bottom-Fishing Tracker, says the recent
legal jousting between Winspear Resources and Aber Resources amounts to
nothing more than a "childish pissing match" between Aber's Ken Hanna and
Winspear's Randy Turner. Mr. Kaiser adds that the legal gambit (in which
Winspear claims Aber has elected to not participate in the $12-million
winter program at Snap Lake) is also a shrewd strategy on Winspear's part
to insulate the Winspear promotion from the drag Aber's involvement has
become. The letter writer, when not tut-tutting over clashing egos, has
followed Winspear closely in recent years, recommending it at least seven
times, from a low of 46 cents in June 1998 to a high of $3.16 in February
1997. Mr. Kaiser says Winspear "clearly set a trap for Aber" by arbitrarily
and selectively enforcing certain terms of their joint venture agreement,
which Winspear itself did not fully follow. He says Aber will probably win.
Any other outcome, he adds, would have a chilling effect on exploration.
Operationally, the processing of Winspear's 6,000-tonne bulk sample should
be under way by May, with grade and size descriptions available by early
July and valuations by September.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
IMHO I don't buy the exploration part. This years program is near over, id also like to see JK proof of ""clearly set a trap for Aber"" |
