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

To: The Fix who wrote (4490)	12/16/1997 10:06:00 AM
From: FISHMAN	Read Replies (2) \| Respond to of 26850

Mr.Fix, Any idea who this Research Capital is?Hmmm,they seem to be taking a fair sized position. FISHMAN

To: The Fix who wrote (4490)	12/16/1997 4:33:00 PM
From: George J. Tromp	Respond to of 26850

Hi Fixer: That is a good question concerning KLA. With SUF being the operator and if an intense drilling program developes it would be the green light that they have some serious targets. The question is not whether one can view KLA as a credible play with Applegarth at the helm. The question should be if they have a credible geology to warrant a major drilling program. I dont have that answer nor does their website in my opinion. However if you notice that certain moves have taken place to consolidate the minior holders in that play. If Southerna makes a significant discovery., Kla stock will have a significant leverage. One must remember that KLa is carried to a production decision by Southerna. Kennecott can chose to back in and reduce Southernas holding to 35% with Kennecott picking up 35%. Kalahari sits with 19.8 percent.,., making them the swing company in any future developments. Sort of like the Antler Winspear amalgamation scenario., where Antler was viewed as the swing company in that deal. I believe Island Arc according to the release is marshalling the other minor percentages. So no matter how you cut it if they are successful., Kalahrai will be in an enviable position. So when the predetermined amount is spent by Southerna., one should go one step further and see what Kennecott requirements are for backing in. This may determine how this play develops should a significant discovery be made. Without actually seeing the how the deal is structured., I am speculating at this point. Should be interesting to watch as this unfolds. George