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

To: Claude Cormier who wrote (18991)	5/3/1999 3:36:00 PM
From: Chas.	Read Replies (1) \| Respond to of 26850

I would like to comment as follows: The DHK bust and story has no relevance here as an analogy or comparison, two completely different animals. The long and the short of it, as Gordon states, is that Winspear, Snap Lake, already has a proven resource in the NW dykes that is worth X amount of $ per ton, most are awaiting confirmation of the updated Grade and Value from the most recent samples. that is basically it........the Market and its finicky moods will decide the shareprice while we wait but rest assured the present shareprice does not reflect the true value of the Snap Lake ore........

To: Claude Cormier who wrote (18991)	5/3/1999 4:21:00 PM
From: Sudhir Khanna	Read Replies (1) \| Respond to of 26850

Claude, DHK was a completely different situation geologically and by other measurements. Why is WSP a good speculation? People: Experienced in the area, participated in the last private placement and own over 20% of the company. They have taken a long term view. Control: WSP is one of the few active NWT juniors that controls its own destiny - operates and controls a majority of the project. Incentive: Options and Warrants (most of which are controlled by the insiders) can bring in approximately $20 million. They need liquidity and higher prices for this to happen. Positioning: Has the sex appeal of large diamonds. The story is being watched by the majors and institutions who may enter the play once more information is known about the quality of the diamonds. The creation of Diamondex will remove uncertainty on the use of any funds and exploration risk leaving a clean vehicle for the Snap lake dyke. Tonnage: Drill after drill is intersecting kimberlite and these intersections are getting thicker. As a speculator, 20 million tonnes would not be a bad guess. Uniformity: Past results have indicated that the diamonds are distributed uniformly throughout the dyke. This is also expected due to the geological conditions. Grade: Size class distribution work, along with the above, gives a speculator reason to be optimistic regarding grade. Quality: Very little information available to date. This is the gap between the known and the unknown that makes this a speculation. Clear Exit Strategy: The diamond counts will be released prior to valuations. There is good reason to expect large stones. This will give many a chance to take profits again and speculate with free money on the valuations (if one desires to reduce their risk level). The Chart (I know you like charts): You will have to DRAW your own conclusions as they can be subjective. I see a higher base that has been building for the last few months. The Commodity: The market price for diamonds is improving. Wildcards: The source may be found. Interest in the property may increase. Sincerely, Sudhir Khanna, P.Eng.

To: Claude Cormier who wrote (18991)	5/3/1999 5:57:00 PM
From: Gord Bolton	Read Replies (1) \| Respond to of 26850

A pipe may contain material from several emplacement phases. Within the phases the material may have been subject to different cooling conditions. Someone previously described the Snap lake dyke emplacement as having been shot like a bullet into solid granite and creating the crack which it immediately filled. It would probably be safe to say that this was done under great pressure. The nice thing about a closed end narrow dyke of this nature is that it would cool rapidly. It would not be subject to a large stream of hot gas and hotter magma streaming through vapourizing the diamonds, churning the mix, mixing a lot of country rock etc. In short, the chemistry, the amount of diamonds, the course nature of the diamonds and the high quality of the diamonds indicates that conditions were very good for the preservation of diamonds. I would not think that it would take a great jump of logic to think that if conditions were good for preservation of diamonds at points A, C, E, G, and I---that conditions would be similiar at B, D, F, and H. However, having said all of that, the bulk sample and actually mining the deposit could surprise us either way. The question is what are the likely rewards and risks of being in or out.