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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: VAUGHN who wrote (1324)5/29/1998 11:47:00 PM
From: Ron S.   of 7235
 
Definitely worth discussing.

If the rights to M1 were never contested, think back to November, would you have been overly surprised if De Beers made a take over bid at that time? I was waiting for it. If they did, what would have been the share price? $18, $24, $28?

Now where do things stand. De Beers may have M1, SUF's share price is less than $8.00 and the geology has not changed! Even with the $75 million rand promised to the heirs, the complete package is less than half.

I think the idea of De Beers wanting controlling interest of SUF is very conceivable. However, they are an immense organization and may have hundreds of projects and joint ventures on the go, so the priority may be just high enough to put a couple juniors on it and see what develops.
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