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

To: Shaw who wrote (23147)	7/17/1999 8:47:00 PM
From: Digger	Respond to of 26850

This will be the cheapest mining in the Territories. No water to worry about, no dikeing, easy ;to overcome envorinmental concerns. Check your figures comparing this to the others. Cheap, cheap, cheap. Just like an old fashioned coal mine. Low technology and low cost. Where in the world did you "read" it was more costly than other NWT mines? Or the cost of burrowing deep into a kimberlite?

To: Shaw who wrote (23147)	7/17/1999 9:33:00 PM
From: teevee	Read Replies (1) \| Respond to of 26850

Dean, revisit the MRDI scoping study(they are noted for their northern and arctic mining expertise)....operating costs are estimated at about $Cdn87.00/tonne.....the dyke now has an implied average value of about $Cdn275.00/tonne....... regards, teevee

To: Shaw who wrote (23147)	7/17/1999 11:31:00 PM
From: Andrew	Read Replies (1) \| Respond to of 26850

Dean, Apparently from the MRDI report a small resource of about 670,000 tons of Kimberlite can be open pit mined at a price of $CAN. $87 a ton. I would assume that the cost will go up substantially when they go underground. Costs in the NWT can be prohibitive, everything has to be flown in. $187 a ton rock is great and WSP will likely be profitable how profitable remains to be seen. It will be interesting to see a new report detailing at what cost they can mine underground but then estimates and real world are two different things. I've read others say this will be a cheap mining operation. Cheap is open pit as in pipe where you have a few Cats moving material this will not be a cheap operation it will be labour intense and whoever will be the operator of this project will be hard pressed to ever get production over 2000 - 3000 tons a day. I have spoken to a prominent mining engineer about this project and this is his opinion. Like you said the market must think so too or the stock would be $20 bucks by now. This is why I sold my stock over the last few weeks because I felt it was fully valued between $4 - $5. How nice $300 per carat would have been. Andy

To: Shaw who wrote (23147)	7/18/1999 8:26:00 AM
From: james flannigan	Read Replies (3) \| Respond to of 26850

All, after reading the George Albinio report dated Feb 99, quote"wiyh grade and value equating to US$ 185 t we see the probabilty of a mine,the trouble with daimond deposits,we see no way for winspear to establish the value of the daimonds to a banks satisfaction with out taking a major underground sample.we belive this can not happen due to permitting until 2001.This has implications for timing of development and therfore dilusion of shares.such a cost would be likely 20 to 25 milloin dollars." At 15mt minable is aproximently C$6.00.nav. In my opinoin with the dilusion on the horrizion the stock is fully valued. The play now is MPV.The values loosing aproximenitly US$100 per ton from the data of the last years mini bulks,has made the project at the lower end of the modle that this report states.Some people may flame me for posting this,but those are the facts the numbers dont lie. Regards James.