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

To: Bruce Little who wrote (11345)	1/9/1999 9:22:00 AM
From: james flannigan	Read Replies (2) \| Respond to of 26850

If the gem quality diamonds are there and the populations prove to be distrubited evenly, and the tonnage proves up IMO a biiding war will start as soon as the stepouts are released.Idont think Debeers or RTZ will let the stock run to $200.They will want in early to maximum their leverage.This is a another reason why we may not have got the CF results yet.Sophie did tell me that WSP does have " a white knight in place already".I think it is Pattison,he has the clout and the cash to sit at any big players table.I did ask if any majors have been to the property.She told me that kind of information cant be disclosed at this time.It is hard to determine which side of the fence to be on with not having the latest CF results.

To: Bruce Little who wrote (11345)	1/9/1999 11:49:00 PM
From: The Fix	Respond to of 26850

Good Evening Bruce, First off my feeling is that the U.S. $301 Carat figure will not stand up. I'm estimating that it will settle someplace in the U.S. $220 to $250 range after this upcoming Bulk Sample. The initial sample was small But very impressive. No Company had ever pulled those numbers at that stage of the exploration cycle. U.S. $250/Carat is a very impressive Number don't get me wrong here. I believe that MPV is around $55.oo and still proving up tonnage on DeBeers time table. My feeling is that WSP will prove up Between 35 to 50 Mil. tons off of the Complex Dykes in and around Snap Lake. The Source/Pipe/Cone Sheet will be icing on the cake. I have spoken with Randy several times about WSP's plans for the future. Everytime he has indicated that the project would be Sold/Ventured out etc. to a Major. WSP Management has no experience in under ground mining. This is not to say that they might start the ball rolling on the open pit portion and let someone else operate the Underground process. If and When 35 to 50 Mil. tons are proved up, A plant Will be built on site with the help of H.A. Simons. Last November Randy said that several Majors have been on the property taking samples off the NW peninsula. My feeling is that every one is sitting back and waiting to see what happens off of this up coming program. My bet is that Broken Hill will eventually end up with it's foot in the door (Because of Lucas's connections). God help us all if DeBeers comes in (I'll be the first for the exit door than and I might join ShitPack on a "Short" than). As far as the Capital goes, Well that would be no problem with a payback period of less than One Year. Every banker on Wall Street would be lining up to finance this deal. This is out of Canaccords league, J.P. Morgan (Peter Browns connection) would be the Logical choice here. fIXER