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

To: Sudhir Khanna who wrote (6270)	6/24/1998 9:11:00 PM
From: Andrew	Read Replies (1) \| Respond to of 26850

Hello Sudhir and everyone. How is it that gold mines can be economic at even just a few grams of gold per ton and it is questionable that this dyke cant be mined economically when it has a per ton value close to 40 grams of gold per ton. I realize that it is speculative wether there is enough tonnage or not but say they prove up 10 million tons... would a company that finds a 10 million ton ore body averaging 40 grams of gold per ton leave it in the ground? I called WSP ir yesterday and Sophie said they felt at least part of the dyke was open pittable and near surface. How much would per ton costs run on such an operation approximately? regards, Andy

To: Sudhir Khanna who wrote (6270)	6/24/1998 9:13:00 PM
From: peter matson	Respond to of 26850

I was under the impression that a flat lying deposit would be easier and cheaper to mine than one which was vertical. Could someone please explain. TIA Regards

To: Sudhir Khanna who wrote (6270)	6/24/1998 10:18:00 PM
From: peter matson	Read Replies (1) \| Respond to of 26850

MR Khanna I was just wondering how you came up with a share value of $7.00? If Winspear proves up 10 million tons of the green stuff with a value of $340 dollars U.S. per ton then the resource would be worth $3.4 billion dollars U.S., which would be approx 4.5 billion Canadian. Winspears share is 68% which is approx 3 billion Canadian. If the market gives Winspear credit for only 20% of this (600 million) and 40 million shares outstanding then one should expect a value of $15 Canadian. I realize that the 10 million resource has not been proven however I feel it is within reach. If my assumtions are incorrect please enlighten me. Regards