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

To: teevee who wrote (24322)	9/2/1999 12:19:00 AM
From: Rocket Red	Read Replies (2) \| Respond to of 26850

Teevee Don't know the Details of this new Financing but I hope Winspear Does not Finance New round with CC to me thats Bad News if this is true. I will see What i Can Dig Up as I just heard this Tonight. Cheers.

To: teevee who wrote (24322)	9/2/1999 2:44:00 AM
From: russet	Read Replies (1) \| Respond to of 26850

Hi teevee, Could Hanna has been made a scapegoat? Aber appointments; Diavik Diamond Project plans Aber Resources Ltd ABZ Shares issued 45,802,883 Sep 1 close $9.15 Wed 1 Sept 99 News Release Mr. John Parker reports Aber Resources has appointed Robert A. Gannicott as president and chief executive officer and John C. Lamacraft as chairman of the board of directors. John Parker will remain on the board. The head office of the corporation will move to Toronto. With the move of the head office from Vancouver, Kenneth G. Hanna has retired as chief executive officer, but will continue as a director of the corporation. The board expresses its appreciation for the considerable contribution that he has made as chief executive officer over the past three years. Mr. Gannicott, a professional geologist, has been closely involved with Aber since it first became involved in diamond exploration. He has been a director since 1992. As chairman of the diamond marketing committee, he has been responsible for diamond valuations and the marketing plans for Aber's 40-per-cent share of the anticipated production from the Diavik Diamonds Project in the Northwest Territories of Canada. Mr. Lamacraft, a chartered accountant, has been a director of Aber since 1996. Mr. Lamacraft was, for 19 years prior to 1996, chief executive officer of Conwest Exploration Company Limited. He will assume an executive role throughout the financing and construction phase of the Diavik Diamonds Project. Aber holds a 40-per-cent participating joint venture interest in the Diavik Diamonds Project in Canada's Northwest Territories. Diavik Diamond Mines Inc., a subsidiary of Rio Tinto plc. holds a 60-per-cent interest in the project and is the operator. Aber has recently formed a strategic alliance with Tiffany & Co. of New York. Tiffany has agreed to purchase a minimum of $50-million (U.S.) per year of Diavik diamonds from Aber and has completed the purchase of a 14.9-per-cent equity interest in Aber for $104-million. Aber's share of the Diavik Diamonds Project capital cost is anticipated to be approximately $500-million. The project is currently undergoing regulatory review. It will then be subject to the approval of the boards of the joint venture partners. Production is anticipated in 2003, subject to timely receipt of permits. Aber currently has cash assets of $213-million. These changes reflect an increased focus on diamond marketing and related project financing. The most important value component of the anticipated production from the Diavik Diamonds Project is in high quality diamonds fitting the requirements of Tiffany & Co. in particular and the American market in general. Aber intends to further develop integrated marketing plans to capture maximum value for its shareholders from this unique resource. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com