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

To: Rocket Red who wrote (9492)	11/18/1998 12:03:00 AM
From: bill	Read Replies (1) \| Respond to of 26850

Yes, I've talked to RT. I was talking to him when most people didn't know WSP existed. I agree that a. WSP needed to do a financing.I've been saying that for some time now. b. that you should always get financing when you can rather than you need to. You fill up when there's the possibility of doing so. The fact that WSP can obtain financing when most juniors cannot speaks well for WSP's potential and for management. I don't think there's any disputing that. HOWEVER, I think my point is still valid. This interim time in the diamond exploration cycle is usually a time of falling prices. Prices generally rise once the drilling season begins. Simply pull some five years graphs on a half dozen diamond exploration companies. The exhibit the same pattern. I'm assuming that the financing is being done at $2.00 because that's what they can get. Otherwise I'd have assumed they'd wait for a price spike upon drilling starting, then finance. There simply may not be financing at higher prices. Red, you are definitely an enthusiast. I remember all your posts on MMU and your absolute certainty that there were going to be diamonds announced. Lots of adrenalin. And, yes, I, too, know a conservative broker who is enthusiastic about WSP's chances 8 months down the road. There are lots of reasons for us to be long on the stock, at that may be one of them. However, I've bought and sold WSP for many years and I'm very aware of its trading ranges. Keep in mind that the moment it goes over 3.00 it is a short candidate. I don't play that game but many do. I hope it does go to 10-15 dollars. It happened with ABZ. It can happen to WSP.