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Gold/Mining/Energy : Winspear Diaminds (Bulls Board) -- Ignore unavailable to you. Want to Upgrade?

To: BMWIN who wrote (371)	2/6/1999 12:12:00 PM
From: BMWIN	Read Replies (2) \| Respond to of 1172

Well folks, not a good post. I screwed up on the numbers. Here's a better try: I am a novice in the area of mining stocks. However, a couple of questions have come to mind. Some folks here have been talking of share prices for WSP from $10 up to $100. The only stocks that I can compare the WSP with are the Aber and Dia Met stocks. Winspear has issued as far as I know approximately 34 million shares. Aber has issues approximately 45.5 million. Dia Met has issued only 22 million. Now, Aber shares are trading for approx. $10 per share. They appear to be well ahead of Winspear in terms of exploration. This raises a question in my mind regarding the short term price of Winspear. That is, capitalization for Aber is 450 million dollars. Current capitalization for Winspear is 100 million dollars. Maybe I just answered my own question on this one. The next question I have has to do with Winspear and Dia Met. If Dia Met has 22 million shares and trades for $17 per share than we have a total capitalization of 374 million dollars. This is a mine that is already in production, etc. As I said, Aber has 37 million shares issued. To reach the same 374 million dollars capitalization, we would need a Wsp price of $10. If we look at Aber, it has a total capitalization of 450 million dollars. How can Aber have a larger capitalization than Dia Met? Something doesn't make sense to me. Can anyone out there help me out on this? Thanks Bob Wozney

To: BMWIN who wrote (371)	2/6/1999 12:14:00 PM
From: Andrew	Respond to of 1172

Hi Bob WSP owns 68% of their property while Diamet only owns 29%. Also it would seem that the value per ton at Snap Lake is about 3 times that at Ekati. We will see if it holds up. $20 or $30 share is likely this fall if it does IMO. Andy PS. It also probably wont cost 900 million to develop Snap Lake.

To: BMWIN who wrote (371)	2/6/1999 12:22:00 PM
From: teevee	Read Replies (1) \| Respond to of 1172

Bob, If life and investing were only that straight forward and simple... Its "apples and oranges", or kimberlite and orangeite, or bort and lots of large gem diamond. Also, Aber and Winspear each have about 48 million shares out on a fully diluted basis. Aber has a 40% working interest in a number of pipes with a comparatively low value per carat../about $US65.00?. As the arbitrary cut off for gem diamond is $US50.00 per carat, we can assume that there are very very few large gem quality diamonds in the Aber pipes. Winspear has indications of over 80 million tonnes of $US 343.00 per tonne rock(implied value derived from reported grade of 1.14 carats/tonne with a reported average value of $US301.00/carat). At 10% of in ground value, with a 68% interest and operatorship, there is no reason why Winspear can't achieve a price of about $CDN38.00 per share. regards, teevee