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

To: The Fix who wrote (17202)	3/31/1999 12:44:00 AM
From: Gord Bolton	Respond to of 26850

Obviously there is lots more going on inside the Aber boardroom than we will ever know about. If you go to Sedar and read Aber's Prospectus to raise cash in May of 1998 there is no mention whatsoever of Camsell Lake, Snap Lake, or the JV with Winspear. Aber raised a lot of cash at $14.50 per share and paid commissions on it. Winspear is obviously Gung Ho on making a mine at Snap Lake SAP. If Aber spends significant money on Snap Lake from the money raised for Diavik, they would be required to ammend their Prospectus. If they ammend the Prospectus the folks who put their money in may reconsider and pull out. Was Aber trading below or around $7.00 for a while before Christmas? Can you see their problem? Interesting note: in the prospectus Aber claims to already have a spin off subsiduary. It appears to me that Aber painted themselves into a corner and since then have been sitting on both sides of the fence. If things are fantastic at Snap Lake everyone would like to be in at $.65 after the fact. If they are not Aber would not want to face the shareholders who bought Diavik and had their money wasted at Snap on some skinny little dyke. By my own calculations Aber's former percentage in Camsell Lake was probably worth more than their percentage in Diavik. Why can't everyone see that this was all so unfair! Read Winspear's spring , 98 NRs. Aber did not even want their name associated with Snap Lake until Winspear announced the big rocks in June. This has the makings of a first class comedy. I think that I would like to attend the trial. It could be better than the JP show.