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

To: Rocket Red who wrote (22299)	6/30/1999 11:41:00 PM
From: Sam	Respond to of 26850

Some guys may find this interesting a news from last week WINSPEAR RESOURCES LTD. NONE CAN GUESS THE JEWEL BY THE CASKET Winspear has just set a new standard for disclosure in the shadowy business of diamonds. With the news release after market close on Friday, Winspear has extended its open hands from the shadow of controversy. This shadow was cast upon it by the pen of the privileged yet self proclaimed protectors of fair play. The barbell was lowered using refrigerated arguments that have been discussed on these pages and Internet forums for the last seven months. The barbell will now be raised again on the strength of the same pens. This short workout will render them stronger at the expense of the undisciplined. In this industry, caution is the norm, not the exception. Caution should be exercised from the beginning, not as an afterthought in the middle. In general, I believe that the primary risk of a product is not in the product itself, but in the way in which the product is managed. In the January 11, 1999 issue, I stated that the expected battle between fear and greed can only be won by discipline. I hope each of your individual situations has allowed you to follow the conclusion reached in the last write-up; "I suggest you continue to hold Winspear through the bumpy ride for higher prices during the third quarter of 1999." EAGLES DON'T CATCH FLIES The current news release strengthens by speculative conclusion that we are witnessing the birth of a new mine. The market is going to view this release as an attempt to control the damage caused by the debate last week. Obviously, the coarse diamond size distribution study did not begin and end last week. The value of the study lies in its completeness. The study was conducted by Dr. Malcom E. McCallum, an independent consultant. Dr. McCallum has been working in the diamond industry since 1964. He was a professor at the Colorado State University from 1962 to 1965. Many of his technical papers have been written in partnership with Prof. John Gurney, the best diamond mind around. Dr. McCallum has worked on several kimberlite discoveries including some of the finds in the NWT. He is well qualified and his conclusions, as presented in the release, will carry weight in the market. The news release has laid to rest some of the issues raised by the volume of debate last week. These issues are discussed and summarized below. Over the last week, the media and some analysts have debated the origin of the three largest diamonds recovered from the mini-bulk sample. Unfortunately, it was the presentation of the debate, not necessarily the debate itself, which included the mention of Bre-X (for the volume effect), that caused fear to triumph amongst the under-informed. This issue was put to rest by us long ago and now Winspear has put this to rest with the analysis presented in the Friday release. Dr. McCallum concluded that the physical and morphological characteristics of the larger stones are similar to those observed in the smaller stones. Basically, the diamonds from the NW Dyke have unique signatures that relate directly to their origin. The same signature has been observed on all the diamonds and thus they are all from the NW Dyke. The tale runs as it pleases the teller.