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

To: james flannigan who wrote (21222)	6/20/1999 10:23:00 AM
From: gemsearcher	Respond to of 26850

Thanks James. That info helps considerably. I agree that selling would be a mistake. I don't think I'm missing anything here. Regards.

To: james flannigan who wrote (21222)	6/20/1999 11:26:00 AM
From: mineman	Read Replies (2) \| Respond to of 26850

The difference between the Antwerp estimated grades and what the mine is actually paid per carat depends largely on the grade of stones over .5 carat in size. The price could be comparable or could be only 30% of the assessed grade. Argyle (Australia) has mostly industrial grade stones so without their high-quality large pink and other coloured stones the mine would be sub-economic at today's prices. If the 88 large stones are all "industrial grade" valued less than $50/carat it will mean the bulk of the assessed value is in small stones under .5 carat and the actual figure for what the mine would receive for their rough stones would be a small fraction of what they would receive if at least some of the large stones are valued at over $500 per carat. The value of each of these 88 stones is crucial to determining if the project may be viable. The project cannot be judged properly without knowing the value of these large stones. Management have to release this information!!