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

To: .Trev who wrote (26447)	8/10/2000 5:17:57 PM
From: Rocket Red	Respond to of 26850

More News from Winspear/Debeers De-Beers is full of it they can take there offer and stick it. Winspear Diamonds Inc - Winspear Snap Lake update reviewed by De Beers Winspear Diamonds Inc WSP Shares issued 51,634,088 2000-08-09 close $4.3 Thursday Aug 10 2000 Mr. Tom Beardmore-Gray of De Beers Canada Corp. reports Following a review of the information released by Winspear Diamonds earlier today, De Beers restated its confidence that its cash offer of $4.25 per common share represents full and fair value for Winspear shareholders. Commenting on the Winspear release Richard Molyneux, president and chief executive officer of De Beers Canada Corporation noted it contained little new information. "Most of the data which has recently become available is largely restricted to that which can be interpreted from a limited number of bore hole intersections," said Mr. Molyneux, "More importantly, today's information does confirm what we have been saying all along which is that there are significant technical, permitting and financial risks associated with bringing this project into production." De Beers' all cash offer of $4.25 per common share remains the only offer available to Winspear shareholders and represents a significant premium over the preoffer announcement share price. In addition, the cash bid provides shareholders with immediate liquidity. Shareholders should consider the likely impact on the share price in the absence of the De Beers offer and the consequent shareholder dilution that will occur as Winspear raises equity moneys to develop the Snap Lake project. De Beers strongly recommends Winspear shareholders accept their offer which remains open until 5 p.m. Vancouver time, Aug. 15, 2000. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)