To: John Paquet who wrote (17819 ) 4/7/1999 3:16:00 PM From: chummer Read Replies (3) | Respond to of 26850
John, ""I think [I stress only I think} that Sudhir Man's group are dumping this stocks by now"" Well,I am in Sudhir's group and I am certainly not selling. As far as the number of subscribers he has,how the hell would you know. I know a number of them on this thread , I believe you are way off. I asked Mr. Charters to list his reasons why Wsp would not perform,I then asked Sudhir to respond to Mr.Charters points. I am happy to say that Sudhir blew him out of the water. Here it is: Charters- 1. tonnage is too small. Sudhir-MRDI, a top consulting firm, has already confirmed that even tonnage as small as 5 million tonnes is profitable. WSP will likely have over 20 million tonnes. Charters- 2. mining a dyke is unprofitable and it goes out underwater.. dangerous.. not undoable but dangerous. Sudhir-At the point where the dyke goes under the lake, the dyke is a little over 100 meters below the surface. This actually reduces environmental and safety concerns. Aber has to drain their lake because the pipe is above the 100 m mark. Charters- 3. 3rd party proof of grade has not been done and cannot be done. Sudhir-WSP has hired a consultant, MRDI, is calculate the grade. Malcolm Thurston used to work for De Beers. As you know, no consultant wants to leave itself exposed to lawsuits and thus will say what the data indicates. WSP has already done 3 presentations to the industry regarding how they will calculate the grade. The process is very open. I have been to 2 of these presentations. Has Eric taken the time to see how the grade will be calculated? Charters- 4. personnel are famous for stock plays. Sudhir-Have you ever heard of Randy Turner before WSP? He worked for a major company before starting WSP. I don't think he became famous in 7 years of hard work. They do have a good story to tell and they are telling it. Charters- 5. discovery had some precedent but came at suspicious time in company's history. Sudhir-Don't understand this question. WSP has been looking since 1992 and did not give up. The stock has been above $4 a few times during this period. They probably made more money in the first four years than in the last two. Charters- 6. despite many calls for verification the company is keeping this from the stock holders and not seeking 3rd party opinion something that most companies are doing nowadays.. especially where there is controversy and the samples have no checkability ie the sample itself is not from split core but is completely destroyed. Sudhir-He really should do his research. At the very least, he should call the company. They have a third party at the site which has taken its own drill samples. The third party is also in command of the diamonds when they are recovered at the plant. This was true for the 200 tonne sample as well. The third party gets the diamonds to the valuators and tells WSP and ABZ where to meet them. Charters- 7. it is a promotion. See Bre-X. many good PhD's on the board there too. Sudhir-No comment as I do not agree with the association. Charters-8. it would not be the first claim in the NWT salted.. ie yamba Lake. Sudhir-No proof either way. Charters-9. the checking is being done at John Dupuis' facility in NWT. John Dupuis is not trusted in the industry and with reason. WSP has not told anyone where the processing is occuring. The consultants are present during the processing. Charters- 10. the detractors of WSP have been personally attacked. this is a tactic of the scurrilous people. Sudhir-The presentation of opinion without facts has been attacked, not the people. Charters-11. some of the people on the WSP board are known claim jumpers. I am not kidding here. ethics are lacking."" Sudhir-It is true that WSP takes advantage of ground that comes free. I call that good business, not claim jumping. They have done nothing illegal.