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

To: james flannigan who wrote (26474)	8/11/2000 12:55:14 PM
From: wayne cath	Read Replies (1) \| Respond to of 26850

Thanks,all, for the unwavering confidence. I don't share it but certainly find it a comfort to hear. I hope I am wrong regarding the impending hurt we may all soon suffer. Also, its been fun reading about our little wsp in the Globe & Mail. Soon to be a front page headline, maybe? Wayne

To: james flannigan who wrote (26474)	8/11/2000 2:13:38 PM
From: russet	Read Replies (1) \| Respond to of 26850

Simple minded hamster calculations,...with a little rant: 86 million carats of diamonds in indicated and inferred resource,...deposit still open in 3 directions, and another dyke found below the first in the Northeast. 86 million carats x 68% WSP share = 58.5 million carats belonging to WSP shareholders. Each carat is worth about CDN$150 average, so,.. 58.5 million carats x $150 = $8.775 Billion dollars So we are worth almost 10 Billion dollars, and De Bums is offering $250 million,...if we are stupid enough to accept that crap, we deserve to be squished!!!! $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ Another way to look at it, for gold nuts... 2 carats per tonne x US$100 per carat = US$ 200 per tonne rock US$ 200 per tonne/ US$275 per oz gold = .72 oz per tonne gold (22 g per tonne). and $8.775 billion CDN dollars / 412 CDN$per oz gold = 21 million oz of gold (deposit still open in 3 directions). Now what would Barrick (or another gold miner) pay for 21 million indicated and inferred oz gold in the ground at a concentration of .72 oz per tonne(22 gram per tonne). My guess, minimum CDN$50 per oz so,.... $50 x 21 million = $1 billion dollars That's 4 times the current $4.00 offer by De Bums, or $16 per share. $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ Hamster rant: One thing we should all be doing is looking at what the anal-ysts say about this rich deposit. To those that are sitting in their cages saying little or nothing we might say,...."are you sure you are in the right business?!" I guess unless these lazy bums are forced by their bosses to write up something to flog their paper on the sheep that read and invest based on their drivel, they have no opinion and don't want to get involved. A few have taken the time to do simple calculations (like Art) to show the world the crappy deal De Bums has offered us. The Snap Lake hostile bid in the year 2000 is one of those career making or breaking analyses, that should tell the market which anal-ysts have some brains and should be listened to, and who should retire. Turner and the Winspear people have assembled all the data one needs to make a decision. Good thing they didn't rely on the anal-ysts to convey the information. The resource is there,...the mine conditions are good,...we will hit kimberlite on or about Aug 20 and start bulk sampling. Then we will have the last bit of information we need to fully assess the project. We already have hundreds of drill cores of hanging and foot walls throughout the deposit to determine the mining conditions, and nothing that would stop this development from proceeding has been found yet according to the mining engineers. We won't have long to wait once De Bum's offer is rejected. The stock price won't have long to drift before bulk sample results start being reported. It's typical that Canadian anal-ysts think we can't develop a world class mine. To those who think that,... who to hell do you think has built most of the world class mines out there!?,....how about Canadian trained mining engineers. Some work for De Bums. End of Hamster Rant,...back to the cage.

To: james flannigan who wrote (26474)	8/11/2000 3:09:17 PM
From: .Trev	Respond to of 26850

Right on James. Kaiser is at it again on the eve of the total failure by Expiry of DeBeers first bid. I deduce from his remarks that DEB's main concern all along has been possible competition from Rio Tinto, and that's probably why they took a run at Ashton. Kaiser in a last valiant attempt to help his primary source of support is now arguing that the main reason for the lack of WKs is that "they know they would probably get beaten by a higher DeBeers bid" For a guy that's trying to sell his services to the world of investors He's sure got some style. " Sell 25%, Sell 25%, Sell 25%, Sell 25%, Now give away whatever you've got left, And please write and tell me what woderful advice I have given you over the years. Don't bother to "Bring in the clowns....They're already here." I hope for his sake that he's making a killing in kruger Rands because his future as a letter writer has little potential IMVHO.And I further suggest that he put it into Deutsche Bank where somebody might grow it for him. It's kinda sad to see somebody go adrift so badly in a career......he should have stuck to his original profession as "Office Boy" at PI. Cheers