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

To: .Trev who wrote (22602)	7/7/1999 1:34:00 PM
From: dgz	Read Replies (1) \| Respond to of 26850

I suppose a mini-mill would provide a couple of good things. 1. A larger more reliable sample at little cost to the company 2. Some Cash flow ? 3. A chance of recovering a big honking diamond 4. A more convincing argument for the bank The problem with this is I don't think they need any of these because: 1. The samples they already have are as large as any taken for the other mines 2. They don't need cash - they have lots and had no trouble raising any last time 3. Big honking diamonds are nice - but not a necessity 4. With Jim Pattison on board - they have enough credibility to convince a bank already. He just has to make a phone call to his banker and say "do it" and they will.

To: .Trev who wrote (22602)	7/7/1999 1:40:00 PM
From: dgz	Read Replies (2) \| Respond to of 26850

Here's what I really think RT is doing. I think he's going to keep on taking bulk samples - proving the value of the ore as he goes - until the big offer comes in. He will look like he's headed for production but in reality he's looking for the big buyout. As long as the bulk samples come close to recovering the costs of taking them, he'll keep taking them from different locations around the property. Face it, its a lot easier to take $50 or $75 per share in a buyout than it is to go through the hassles of hiring staff and developing a mine and dealing with all the politics.