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

To: DIAMOND JIM who wrote (8512)	10/20/1998 1:06:00 AM
From: bill	Respond to of 26850

WSP one of top five traders on VSE today. Up 3+ percent. That looks good but I'd agree that the recommendation and then the selling down could be a problem. What we've got going for us is news on the drill cores and samples they took this summer. Nov and Dec look like wicked months for the market. Winter drilling season usually doesn't start until the end of Jan. That's three months before anything new starts to happen. Those caustic fusion results will make the difference.

To: DIAMOND JIM who wrote (8512)	10/20/1998 1:07:00 AM
From: teevee	Read Replies (2) \| Respond to of 26850

Hi all, IMO this stock will drift lower. Assume that the diamond grade and value remains about the same for current samples in for analysis. Also, infer at least 40 million tons. However, to raise the confidence level of serious money (in spite of the characteristic of dykes to exhibit fairly uniform grades, once grades are established), a 5000 ton bulk will have to be performed. In order to do this, I think WSP will have to buy their own portable plant (IMO, it is most likely that those with the resources and processing facilities aren't likely to be obliging on a contract basis only). What does this mean? WSP will have to raise more equity capital(dilution) and the bulk sample won't happen until next year at the earliest. Is Cannacord selling because they believe a financing will be at lower price level?