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: peter matson who wrote (7254)	7/20/1998 1:25:00 PM
From: E. Charters	Read Replies (1) \| Respond to of 26850

OK. Very mature of you to say so. So arguing your dad could make you listen once in a while let's examine the facts, shall we Johnny? and put down that dirty lollipop. Winspear is a Canadian Junior mining play. I have made commentary about it for two years both on SI and in my newsletter. I have no emotional attachment to the stock for a number of cogent geological reasons and looking at their track record for in that area. It is not actually true that I have universally trashed them. But in the feeding frenzy of people dumping the stock to amateurs as it climbed on unreasonable expectations of a mine in a bad low tonnage geometry I presented a cool and dissenting opinion that it was that all fired great. So I am Mr. Meathead for not encouraging suckers to buy stock in a rising market? I see. Well it is not going anywhere without DISCOVERY of something better than it has. The dyke itself, while seemingly technically feasible to mine, is dicey. It also, if you crunch the numbers, has very few tons to support a full mining plant. You need about $1 billion in product to even think about a full scale mine up there. And 100 dollars in diamonds a ton is marginal grade with those kind of economics. Remember they have to hold the grade through every ton, something that is far and many millions of dollars from being proven. Is it a scam? Well the RCMP arrested somebody recently in Saskatchewan with $45,000 in illegal diamonds.(weekend Globe and Mail) It is very easy to smuggle raw diamonds into the country. The sample processing lab has no reputation and is controlled by partial interests that are looking for money. This sudden discovery occurs at a time when their stock is at an all time low, Aber pulled out of participation in the sampling and all other assays on the property being low, is suspicious. (They must have looked at the chemistry.) They have drilled pipes and then they said they were not pipes. Do they know what they are doing?. They (the pipes) failed to assay. All other samples failed to get results of any account. Suddenly, at the bottom of a market slide, this one hits, in a small bulk sample, the kind of stones that one would expect only after mining about 20,000 tons, 100 times the amount they mined. Statistical probabilities should kick in here. (It is estimated that in a rich pipe a one carat stone is found approximately every 100 tons) It is not known even, if they could not be drill bit diamonds, as Southernera found in their NWT samples a few years ago, thinking they were coloured fancies. Remember this new plant has new personnel and their competence in this field of seeding discrimination is untested. If Lakefield can make a mistake I will bet they can. It is childishly simple, and it has happened a few time before, for an employee to throw a handful of stones into the DMS tank or the sample con going to caustic. In this case belief should be with held until this wild semi retail blowout abates and better testing confirms the find. echarter@vianet.on.ca The Canadian Mining Newsletter