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

To: JJ who wrote (9883)	12/2/1998 2:36:00 PM
From: The Fix	Respond to of 26850

This was in the Morning Crap as well under ABZ's writeup. The one project the market has completely overlooked in the Aber picture is Snap Lake in the southern NWT. Aber holds a 32.2% participating interest in this project, and taking the market capitalization (f.d.) of its JV partner yesterday, Aber's interest should be equivalent to about $1.15/share. Snap Lake will be one of the most exciting NWT diamond exploration plays in 1999, and may well represent the third or fourth diamond mine in the Territories. A scoping study prepared this past summer by MRDI-H.A. Simons (the firm which managed construction of the BHP/Dia Met Ekati mine), suggested that a 1,000-tpd operation at Snap Lake over 10 years could produce a 55.6% after-tax rate of return with payback within 12 months. An aggressive bulk sampling and grid drill program is planned for next winter. fIXER