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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: Rick Hawke who wrote (21046)	6/19/1999 1:44:00 AM
From: Au Contraire	Read Replies (2) \| Respond to of 26850

Aw, what the heck ?? I'll post anyhow. This is from tomorrow's diary on my site at intergate.bc.ca I was tempted to post on the SI thread for Winspear. It has been exceptionally active but I note the same standard group of greedy optimists that it does no good to remind of reality. Half of them can't even spell.<BR> The results announced were quite respectable and if you converted the dollar value into ounces of gold it would be a very healthy 0.6 ounces per ton [or more] and that is good ore in that remote area. Unfortunately the market will not like the news release and the stock will do a net sell-off on Monday, so much so that I am going to take a hard look at a short and try to guage the trading top for the day. It may be impossible because of the volatility and some panic volume at the opening.<BR> There is an old axiom that always comes true. "Sell on news". If the news is spectacular,....don't. But the news in this case is not spectacular, so...go with history....and sell. This of course is only good for Monday. What happens beyond that is anybody's guess.<BR> Evaluating a diamond deposit is time consuming because bulk samples are the key. They will probably have to do an underground test program before a final feasibility study can be completed. This will take even more time so this stock is a long term play and probably can be traded profitably many times, but not by me after Monday if I even try it then.<BR> If they are suggesting that the deposit can be mined at a rate of 3000 tons per day they will have to do some high powered scrambling because it is only somewhere around 8 feet thick and it takes a lot of mining area to make daily tonnages of that magnitude, especially if they eventually go underground. They will wish it was thicker and more vertical than it is. Mining will not be cheap.<BR> H.A.Simons never were mining people so we also have to keep that in mind. Never forget Kilborn and Bre X. Better to bring in Strathcona or somebody else more experienced before they get too far into pre feasibility.<BR> Good luck to all on Monday. Au Contraire