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

To: LAURIE SELINE who wrote (26001)	6/26/2000 9:54:00 PM
From: Andrew	Read Replies (1) \| Respond to of 26850

DJN =DJ Winspear/Offer -2:Analyst Says Bid Undervalues Snap Lake Symbol: ABERF DBRSY I/DBR C/ABZ C/WSP I/DBR Industry: MNG PCS Subject: DJN DJWI ADR CAC DJS DJWB MMM STK TNM WEI Market Sector: BSC NND Geographic Region: AF BRC CN EU NME SF SZ WEU Product/Service: DAF DCA DEE DMM Yorkton Securities analyst Art Ettlinger said the De Beers Centenary AG (Z.DBR) planned takeover offer for Winspear Resources Ltd. (T.WSP) is likely to be viewed by Winspear as unfriendly. "I would suspect that Winspear will try to fight this," he said. "We have a C$7 price target on (Winspear). So we think the offer undervalues the Snap Lake asset." De Beers plans to offer C$4.25 for each Winspear share. Ettlinger added that the Snap Lake property has excellent potential to expand the known diamond resources, and this potential isn't reflected in De Beers' offer. Tom Beardmore-Gray, senior vice-president of De Beers Canada Corp., said the company "doesn't intend to raise its offer" even if Winspear views it as unfriendly. If the offer is successful, Beardmore-Gray said De Beers intends to complete a Snap Lake feasability study as quickly as possible and begin transaction only." De Beers expects to mail its offer to Winspear shareholders within the next 10 days, Beardmore-Gray said. The offer is being made by De Beers Canada Corp., De Beers Centenary AG's unit. Centenary is the offshore component of De Beers Consolidated Mines Ltd. (DBRSY). Each De Beers Consolidated share is linked to a Centenary depository receipt. -Stuart Weinberg, Dow Jones Newswires; 416-306-2032 (END) DOW JONES NEWS 06-26-00 02:22 PM End of News