ALL FYI
Aber Resources Ltd -
Kaiser says a Winspear win would hurt exploration
Aber Resources Ltd
ABZ
Shares issued 45,802,883
1999-04-15 close $9.65
Friday Apr 16 1999
See Winspear Resources Ltd (WSP) In the News
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. |
