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

To: Rocket Red who wrote (22568)	7/6/1999 8:28:00 PM
From: Rick the Vet	Respond to of 26850

I have to agree with you Red. DeBeers is spending hundreds of millions on exploration with little or nothing to show for it. Makes sense to me to make a $20 offer for WSP-- They would save a lot of money in the long run. I know Randy said he would reject the offer saying he wanted $50 but that would be up to the share holders. I think once the CF results are in and the other 3000 tonnes then this is a distinct possibility. The poor market makes this option even more attractive since putting the mine into production will result in more dilution than 5 years ago. Therefore most shareholders are likely to take the money and run should a bid appear. As for the remaining 3,000 tonnes. Am I the only one that can see that from last years results, probably 60% of the value came from Pit 2? Having said this if the results come in at less than $300 US I will be very surprised. Randy is expecting this and this is why he has applied for another bulk - This time underground.