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

To: The Fix who wrote (25168)	1/2/2000 1:28:00 PM
From: Rocket Red	Respond to of 26850

Fixer Its full steam ahead for Winspear and Snap Lake. The court thing has no bearing on the project at snap lake. When Winspear tells us they raised another 30 to 50mil Dollars for Snap.Watch the ticker. Cheers.

To: The Fix who wrote (25168)	1/2/2000 2:01:00 PM
From: teevee	Read Replies (2) \| Respond to of 26850

Fixer, If one accepts the unoffical $50 million budget for the PROPOSED program, and assuming that the December warrants are 100% exercised and Aber puts up their 16%($8 million), Winspear would appear to have about $15 million + $11 million + $8 = $34 million on hand, the big question I find myself asking is: where will the remainder of the budget moneys come from? One possibility is the warrants attached to the $15 million private placement done last fall. They would bring in another $15 million or so. The diamonds on hand are supposedly worth about $1.5 million. Markets willing, there are options worth $3 to $4 million that might get exercised(I give them zero value at this time). The other big question is: Can Winspear proceed without 100% of the budget moneys in hand? The initial unoffical budget was ~$60 million, but the used 10 tonne/hour mill purchase apparently shaved $10 million off the budget. Are there further cost cutting measures that could be taken? Rumors abound, however, my gut tells me that the monies are lined up and the program will proceed. For example, interest from just a small portion of Deutche Banks Securities institutional client base from around the world could make it happen. Also, subject to bulk sample results, I wouldn't be surprised if at sometime down the road, Deutche Bank was the lead project lender for syndicated debt financing of a portion of Snap Lake development costs. We shall see. regards, teevee