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

To: The Fix who wrote (10291)	12/9/1998 11:09:00 PM
From: teevee	Respond to of 26850

Hi Fixer, For what it's worth, here is my two bits: 1. I anticipate prior macro/macro ratio's and counts will be confirmed by similar results for the 70 odd or drill holes sent in for caustic dissolution. This is extremely important IMO because it would strongly support the likelyhood of grade continuity (something you would not expect from a typical kimberlite pipe). Grade consistency and continuity for dykes and a cone sheet is to be expected. In addition, it will help decide where to take the bulk sample(s) and infer that results should match the previous two 100 tonnes samples. 2.The main rumor as to who took down a big chunk of the private placement is Jim Pattison. I can't see what good selling him half the private placement would do for the company. The only person who makes money in a deal Pattison is involved in is usually only Pattison himself. I would tend to think that he and his friend the Rabbit would sell Winspear down the sewer in a New York second and laugh all the way to the bank with your and my money. IMO, it makes a lot more sense if someone like Pierre Lassonde, or one of his companies(Euro or Franco Nevada) bought a big piece of the private placement. At least he would be there for the home run and more importantly, likely attract many fund managers to take a position in Winspear(remember that continued support AND funding at much higher prices is a key and critical ingredient for ultimate success here-who placements are done with can make or break a project in the long run). As for the rest of the names, some will be well known and others not. Overall, I believe that the "names" wil add even more credibility to this project. We shall all find out by the middle of next week anyways, if the placement closes by the end of this week. 3.Remember that Aber is putting up 32% of the budget monies. As far as the bulk sample goes, I think that rather than a 5000 tonne bulk, there may be 2 or 3 two-three thousand tonne bulks in different places along the rim of the cone sheet (note that given the diamond size distribution from the two 100 tonne samples, I predict that a 5000 tonne sample will yield about 25 ten carat stones and, if they are lucky, a 30 carat stone-yes, I believe the prior grades are not a fluke and will be duplicated). As far as the drilling goes, I think that a)WSP will likely pursue establishing additional open pit tonnage on the north shore;b)deep test for a pipe/feeder for the cone sheet;c)increase indicated tonnage with wide spaced holes around and within the perimeter of the cone sheet;d)drill other targets on the Camsell Lake property;e)drill other targets on other properties. There should be lots of action and lots of news. No I don't think they will shoot the wad-all of the above can be done and they can still have multi-millions in the bank. regards, teevee