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

To: Gord Bolton who wrote (9082)	11/3/1998 8:57:00 AM
From: Jim P	Read Replies (1) \| Respond to of 26850

Gord, it took Diamet sometime to get a mine up and running. How long do you think WSP would take to get up and running. Assuming there is a mine here. Remember Diamonds are not a supply demand commodity. They are a restrict supply to create demand commodity. Valuations used by WSP are based on current supply/demand prices. If they and others flood the market you could cut those numbers in half. Jim

To: Gord Bolton who wrote (9082)	11/3/1998 2:28:00 PM
From: bill	Read Replies (2) \| Respond to of 26850

I'm not sure what is the purpose of your comments about DeBeers taking control of WSP? Do you have any professional relationship with DeBeers? Are you running up a balloon to see who salutes? If not,then you should be aware that DeBeers involvement is the kiss of death for the shareholders. DeBeers has more than enough diamonds above ground. They want controlof the diamond supply, preferably in the ground. They're long term thinkers. They're happy to keep the ice in an underground refrigerated vault. Anyone taking a 10% position in a company has to declare its interest. If DeBeers wasthe buyer of all those shares, an announcement would have to be made. To move beyond that they're going to have to make a friendly or hostile bid for control. ABZ owns around a third of the interestin the property. I'm sure they'd have something to say about any deal. Could there, at some time in the future, be a hostile take over of WSP? No reason why not. Might it elicit competing bids from RTZ, etc.? Maybe. Is it more likely that if WSP doesn't get the results it needs for anther financing that a major will be able to take a big share in return for financing? That's the more likely on the scenarios. Juniors go under for lack of cash. Will WSPhave to go back for financing within twelve months? Absolutely. Justlook at their burn rate.Will they go to DeBeers. I doubt it. They'll probably go to those European investors who were doing a lot of the buying during the last two weeks.