Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Zeddie88 who wrote (26460)	8/10/2000 5:19:25 PM
From: kidl	Respond to of 26850

They don't give up easily, do they? Winspear Snap Lake update reviewed by De Beers Winspear Diamonds Inc WSP Shares issued 51,634,088 Aug 9 close $4.30 Thu 10 Aug 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. © Copyright 2000 Canjex Publishing Ltd. stockwatch.com