GREY:PGDIF - Post by User
Comment by
angryolmanon Feb 23, 2014 8:29pm
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Post# 22240808
RE:Winspear
RE:Winspear Randy's dyke registered 13MT @ 1.66 cpt and $118 p/ct when DB originally offered $4.25. You need to remember that Randy had some really interesting holes registering much higher values but the dyke was really narrow. So much so that DB had to bring in squat equipment to mine it. All in, Snap was worth $440M to DB. Turned out that squat mining was really expensive but we will never know what DB netted out at. I cried all the way to the bank. DB whined for year about Snap. It's interesting though that our problem is the Spear's in reverse. Randy never found the pipe. We have the pipe but have yet to prove up the dyke. 3 holes. Intersect on DH 20 at 23-44. Intersect on DH 10 at 46-70 and 92-136. Hole 2 72-86 and 88-90. These were all drilled at 45-50 degrees. So, small pipe or large dyke? If you crunch the Spear numbers, 2.5 B ain't bad... as a start. Oh, BTW, as I recall, WSP stagnated prior to the offer with a lot of guys wondering why. Good luck TA