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Gold/Mining/Energy : Trump's 12 Diamond Picks, Discussions Limited -- Ignore unavailable to you. Want to Upgrade?

To: Tomato who wrote (1387)	10/19/1998 12:33:00 AM
From: maintenance	Respond to of 2251

I made a glaring error in my numbers. Rather than $2.27 and $5.99 they should be $1.54 and $4.07 respectively. I forgot to take 68% for Winspear's share! One hundred divided by one point zero five squared. It is actually: C divided by (1+r)^n Or for a series of cashflows: NPV=(C/(1+r)^1)+(C/(1+r)^2)+...+(C/(1+r)^n Where C=cashflow, r=discount rate, n=the number of periods. In our case the number of periods is equal to the number of years. Note also that I assumed the payments were taking place at the end of the year. In reality both the payments out and the payments in would be continuous thoughout the year. Cheers

To: Tomato who wrote (1387)	10/19/1998 10:48:00 AM
From: VAUGHN	Respond to of 2251

Hello Tomato From this mornings Morning Coffee ************ * Winspear Resources (WSP : VSE : $1.26 : Issued 33.9M) Aber Resources (ABZ : TSE : $8.00 : Issued 48.0M) Last Thursday, Winspear Resources reported the completion of the summer drill program at Snap Lake, NWT. The project is 67.8% Winspear operator) and 32.2% Aber Resources. In early October, Winspear released the details of a scoping study prepared by H.A. Simons (MRDI Canada) which suggested that a 'resource' of 1.348M tonnes of kimberlite existed beneath the NW Peninsula at Snap Lake (please see Oct. 7/98 Daily Letter). Last week's release reports on five additional holes which significantly enhance the tonnage potential of the NW kimberlite dike. Previously the N-S strike of the dike had been traced for 850 m on the peninsula; the average true width of the intersections was 2.4 m and a very few holes down dip to the east suggested an 1,800 m down-dip dimension. The five holes have extended the strike to 1,350 m (on the west side of the lake), the average thickness remains about the same but the down dip potential has been extended to 2,200 m. The locations and intercepts are tabulated below for the five holes; for relative locations please refer to the map below (not available in email or web versions). Hole No. Intercept Location Depth Metres NORTH SHORE HOLES CL98-15 98.7 2.8 200 m north of the NW peninsula and 500 m down dip CL98-16 212 2.0 150 m N and 450 m E of CL98-15 and 1,000 m down dip 232 2.1 CL98-19 na 2.6 300 m N and 100 m E of CL98-15 Down Dip Holes (to the east from islands) CL98-17 478 2.5 300 m N and 400 m E of CL98-13 which was drilled in the spring 1,800 m E of the subcrop on the NW peninsula CL98-18 264 0.15 160 m S and 350 m E of CL98-13 Hole CL98-17 intersected 2.5 m of kimberlite which is similar to the NW dike material but its depth is about 150 m below the projected depth of the dike at this location, and the hole encountered significant alteration of the granite host in the hanging wall. Hole CL98-18 may not have been drilled deep enough to intersect the kimberlite projection: change in the dike's attitude to the east?? The grid drill program planned from the ice next winter will help to fill in the picture but so far the blind feeder pipe or feeder system remains elusive. We also anticipate budget approval for a much larger bulk sampling program next winter to verify both grade and carat valuation. In the interim we expect news in the form of caustic fusion (macro-microdiamond counts) from the 500 kg of kimberlite remaining from the 200 bulk sample (soon) and a flow of results from the spring and summer drill program (in batches) over the coming months. As the Snap Lake project will enter the prefeasibility stage next year we would underscore our SPECULATIVE BUY on Winspear and STRONG BUY on Aber. We see no recognition of the Snap Lake project in Aber's share price. David James (204) 988-9602 ********* It would be interesting to know type of kimberlite encountered at depth and meaning of the words significant alteration? Regards