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

To: james flannigan who wrote (13676)	2/1/1999 11:33:00 AM
From: Johnny Gun	Read Replies (1) \| Respond to of 26850

I guess it is safe to say that this thread is now officially toast................ JG

To: james flannigan who wrote (13676)	2/1/1999 12:01:00 PM
From: Walt	Read Replies (5) \| Respond to of 26850

Morning all, Yellowknife has a population of around 17,000 people, so its not a big place. When you drive into town from the south you go past the airport and then at the Bristol monument the road splits to form the loop. At that corner is the dispatch point for the winter road with a big sign, ALL TRUCKS HEADING NORTH MUST CHECK IN: HAVE A CB AND MONITOR CHANNEL ONE. So anytime one drives the loop you can see the trucks marshelling up for the trip north. On Saturday I went by a convoy heading out. A flat bead with a grader on it, the next one had a drill, drill shack and some equipement and the third had an atco trailer/camp. At the dispatch point were two fuel trucks and another atco trailer ready to go. So the winter road is open and men and materials are heading out. Now for a little short course in geology and exploration. Most text book and courses in geology divid the rocks into three basic units. Igneous, sedimentary and metamorphic. They often treat these as three distinct units, which is a little misleading. I found it a little confusing untill I came across a little diagram. So get out your pencils and paper and write this down. Put the three groups into a triangle with double ended arrows between the three types. This shows the dynamic interrelationship to the groups. An igneous can become a sedimentary or a metamorphic, etc et all. This diagram is the way to understand rocks and there interrelationshipa. A sedimentary rock influenced by an igneous can become a metamorphic, etc. Now for exploration you have another triangle, with interconnecting arrows. Can anyone quess what the three elements would be. The ones I like to use are skill, determination and luck. Those are the keys to success for exploration, to run a succesful exploration company I suppose you need another triangle, finances, properties and personel. So when I look to invest in a company I look at the finances, personnel and properties triangle and when I look at exploration it is the skill, determination and luck triangle. One of the points I would raise, if you were in charge of an exploratation company and you had WSPs ground what would you do. Would you have drilled found no pipe and walked from the ground. If you had been in charge of diamet would you have quit when you hit a pipe and it was none economic. The same with Aber. Time will tell weither or not WSP has a mine but at least they are trying to find out, they have raised the necessary finances and they have a good team of people (in my opinion). As an arm chair quarterback, there are a few things I may have done a little differently but at least they are out there trying to find that illusive mine. Not just at snap but on their other properties as well. regards Walt