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

To: Tomato who wrote (4042)	11/17/1997 7:05:00 PM
From: bill	Respond to of 26850

The 52 week low for WSP is 66 cents. From the chart I thought we might see WSP trade down to its low. Instead, it moved up to the 75 cent range for part of the day. If it breaks below 66, then I'd expect it to keep sliding until it hits its 24 month low w hich, I believe was in the 50's. Great opportunity to buy more in the face of drilling beginning in January. However, the trend line is pretty flat. So it may just drift sideways. It did look for the short time I was able to watch today, as if a rally was in the making. Driven by possible news? Driven by bargain prices? Someone earlier mentioned that there might be another news release. Was that likely or just whistling as we walk through the graveyard? Not to jump out from behind gravestones covered in a white sheet but the insider buying that was posted on another company is scary. The insider was buying in the 80 cent range. I checked the stockwatch chart. The stock has taken a nose dive. So much for the hot inside knowledge of insiders. Gave me a cold chill because I've been putting some faith in the posts showing the insider buying on wsp. Maybe like lemmings we're just going to follow our leaders into Snap Lake never to be seen again. They will tell tall tales of the many threadsters on SI WSP who mysteriously disappeared into the north never to be heard of again. Oh, well, better than being a tourist in Egypt.

To: Tomato who wrote (4042)	11/17/1997 7:09:00 PM
From: Tom Esau	Read Replies (1) \| Respond to of 26850

you feel it is a good time to figure out how much you can lose instead of how much you can make. i would suggest to you that is an exercise everyone should do before buying any stock not a year after the fact. T

To: Tomato who wrote (4042)	11/17/1997 7:28:00 PM
From: George J. Tromp	Respond to of 26850

Hi Tomato: Much can be said on valuation of exploration properties. Most of the time properties in area plays are valued according to the activity of their neighbors and sometimes not., it really depends on the size of the program., dollars allocated as well as the markets acceptance of whether a viable chance exists for a noteworthy discovery. As in most diamond exploration programs the property as in Winspear., Gerle., Aber., Suf., and others who are serious explorers will be drilled and sampled over several years time. The market recognizes these projects as viable long term plays. Gerle is trading around .50C with no money to speak of but the tie in with Debeers to fund exploration to production. As evidenced with MPV and Aber pipes will be found that may have been overlooked. In Abers case exploration was mostly financed thru results., offering stock at higher and higher prices. Winspear without having talked to them., theyre burn rate on a $5,OOO,OOO exp;loration program would be around $3,000,OOO out of their coffers.., the rest financed by Aber. I would estimate around 600,000 to bulk sample the dyke area. The remainder would probably be used for drilling and geophysics., and a contingency budget. I would suspect a portion of that 3Mil will be set aside for definition drilling if and when kimberlite is intersected in the lake. So I estimate and this is only a guess that Winspear should have around 6.0 mil in the treasury after completion of the spring program which would cover drilling up to mini-bulk sampling in the lake area. The market will not ascribe much to the Russian properties because of political risk. The Botswanna property could progress., but I dont see it happening anytime soon. The Rocher property just to the North is 100% and could develop because of its proximitry to Snap Lake. Time will tell. A lot of what Winspear will be trading at in Dec 98 will be determined by the upcoming program IMO. It is too tough to make those protracted estimates. Snap Lake is the driving force of Winspear., and will be the one area in the immediate future to bring them forward. The current price offers a great risk reward ratio., for speculation., and in all likelihood has formed a base in the .70C range. Looking at the action of late and the movement of insiders., it is now under accumulation for the next run. Just my opinion. George

To: Tomato who wrote (4042)	11/17/1997 9:38:00 PM
From: Chris A.	Read Replies (1) \| Respond to of 26850

"You know how WSP makes Gallo wine? They squeeze him by the balls. WSP doesn't have to do that actually- they just have to keep issuing options." Wayne, I've just read your posts both here and on the Aber thread over the last day or so. Your attacks against WSP management is really getting quite offensive... and tedious. I know what your after, and it just won't work. You certainly aren't doing anything to improve my feelings about lawyers. Shall I tell more? Or will you get the webmistress to delete my posts like before?