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

To: Digger who wrote (24014)	8/10/1999 11:00:00 PM
From: dgz	Respond to of 26850

In this morning's hot line message he said he was in there buying because the price was just "too cheap". That was before it hit the 2.30's - so its safe to say he was buying in the mid 2.40's today. Obviously he didn't buy enough though - the stock continued to drop. I think we might see 2.00 yet - if we do - I'm unloading everything else I've got to buy more WSP (although any show of strength from here is probably a very strong buy signal.)

To: Digger who wrote (24014)	8/10/1999 11:22:00 PM
From: dgz	Respond to of 26850

Its times like these we need to sit back and look at the pro's and con's of owning this stock. Pro's Good management Good property (23m tonnes @ 187 US/tonne) Dr. Bob's endorsement Lots of potential (40-50m tonnes) Low environmental impact for a mine Jim Pattison's endorsement Potential for grade improvements 6 billion dollar resource (at least) Lots of potential suitors (ABZ, RTZ, DeBeers,Europeans) Potential for buyout offers from other industries (ABX ?) Insiders holding on to their stock Con's Slightly higher cost to mine than an open pit Underground mining rates (3000tpd max ?) WSP running low on cash (down to $4m now) Kaiser not recommending Pending lawsuit with ABZ No buyout offers on the table yet Govt red tape to overcome to get to production Financing not in place for mine development Market expectations were too high Stock price too low to do a PP without significant dilution Speculators losing interest before Investors became believers Once a few more of the con's get cleared out of the way, things should improve. On the bright side, at these prices, speculators will start to enter again. Its getting so cheap that the potential for huge gains is there again and this time its more of a speculation on the stock price rather than a speculation on the geology. In other words, its a sure thing and about as safe a speculation as one can expect to make.