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

To: Paul Bilecki who wrote (24404)	9/10/1999 8:14:00 AM
From: wayne cath	Read Replies (1) \| Respond to of 26850

Globe says Winspear estimates cost of exploring diamond site Winspear Resources Ltd WSP Shares issued 39,238,388 Sep 9 close $3.00 Fri 10 Sept 99 In the News The Globe and Mail reports in its Friday, Sept. 10, edition that Winspear Resources estimates it will cost about $50-million to carry out an underground exploration program at the Snap Lake diamond project in the Northwest Territories. The Globe's Allan Robinson writes that the work proposed would advance the project to the stage at which a final feasibility study can begin to evaluate the viability of underground diamond mining. Winspear also proposes to have an open pit mine. Winspear is planning to construct an airstrip and camp needed to support underground bulk sampling of 20,000 tonnes of diamond-bearing kimberlite rock. It also says it want to construct a pilot plant at the site in the first half of 2000. Winspear has also applied for a water licence to support an advanced exploration program. Winspear says it is considering the financing it needs to go ahead with the exploration project. Winspear has about $3-million in cash, and mining analysts say the company hopes that outstanding warrants will allow it to raise another $14-million. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com