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

To: Gord Bolton who wrote (11256)	1/7/1999 10:48:00 PM
From: Mr. Oil	Read Replies (1) \| Respond to of 26850

I concur with you 100% Gordon. This is excellent news. The part which really struck me is the MRDI preliminary study found that even at CDN $400.00/ tonne the pay back period would be less than 1 year. Also this is the first time WSP has used the term Cone sheet. They are going to test this theory by more drilling and see if they can find the feeder; 2500 meters (about 10 holes at 250 m each is my guess) could be fewer and deeper holes. Proven reserves now according to MRDI is 1,375,000 tons under the NW peninsula and future drilling will attempt to identify an additional tonnage up to between 7 and 10 m tonnes. If they do there will be enough tonnage to have a mine for over 27 years of mining at 1000 tones/day. Translated to overall gross value that would be nearly $4 billion. What this works out in share value is way over my head but I think it is a bit higher than $3.74. ggg Glad I didn't sell into the resent decline. JMT Ray