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Gold/Mining/Energy : Winspear Diaminds (Bulls Board) -- Ignore unavailable to you. Want to Upgrade?

To: Tomato who wrote (1113)	7/16/1999 9:09:00 PM
From: bill	Read Replies (2) \| Respond to of 1172

Why so depressed Oh Red One? I'm out of ABZ and WSP now. Did my last sale of ABZ when I saw the low volume today. No complaints. Great profits. Are not the results pretty good? There isn't many a gold mine,or any other kind, for that matter, that produces 190 dollar a ton ore. Do you think WSP will sell off on Monday? There are good sized diamonds. Given the dilution caused by the small diamonds collected, the large ones must be quite valuable. That may be why RT used the analogy of Argyle. Not because there are any pink diamonds at Snap but rather that the value may lie in one or two diamonds per tonne. Doesn't matter, really, as long as those one or two turn up. If WSP does sell off, I'll happily start buying. I think RT has more up his sleeve. Personally, I've gone long on TYS. I think Hilltop is where the action is going to be. Those who haven't taken a position with DSP or TYS will regret it. Not much downside on TYS. Could be downside on Diamondex simply because of the higher price. It's all a gambler's play. DMM is an investment. ABZ might be considered an investment. WSP still is interesting because there's still a gamble involved. 10.00 by this time next year?

To: Tomato who wrote (1113)	7/16/1999 9:50:00 PM
From: teevee	Read Replies (1) \| Respond to of 1172

Tomato, Its not bad at all.....here is how I now see it... 1. CF results for pit#1 where localized to that pit only....as the average for block K-11 overall were comparable to the entire dyke.... what this means is that Pit#2 was the aberration, not pit #1:-) 2. the results indicate that the diamond content of the dyke is indeed very uniform..... 3. In simple terms, this is like 23 million tonne resource (open) at 3/4 ounce gold and average widths of 2.7 meters. Using my discount method for present value, I come up with$8.50 per share.....if you are less conservative, the in ground resource value is greater than all of Ekati's pipes...or Snap Lake has more in ground value than Diavik with much much lower capital costs....mining costs are estimated at$Cdn90.00 per tonne...value per tonne is $Cdn270.00......capital costs in the scoping study were for 1000 tonnes per day....increasing to 2500 tonnes per day is not that much more money (additional crushing capacity and HM capacity)....this could easily free cash flow $Cdn1.50 per share....once in production........ Tomato, this might not be the cornucopia we were hoping for, but it is a a very good deposit that will go into production, and more importantly, we can now know with confidence that the stock is worth more than it closed at on Friday....it won't get there as fast as we would like, but it will appreciate...funds should start to come in now as well..... From another perspective on current value based on 3000 tonnes per day mining rate with a capex of $US230 million, try revisiting the Deutsche Bank Securities report....utilizing implied value per tonne, property interest at 68%, current exchange rates, and cutting tonnage from 23 million tonnes to 14.5 million tonnes, the lower figure on Albino's table #3 suggests that with an 8%NAV in $Cdn/share, WSP is worth $4.60/share, and with 0%NAV in $Cdn/share, WSP is worth about $Cdn14.23 regards, teevee