SOUTHERNERA (t.SUF) Message Board

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Gold/Mining/Energy : SOUTHERNERA (t.SUF)

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To: Yorikke who wrote (3802)	6/26/1999 6:47:00 AM
From: GEORGES	Read Replies (1) of 7235

Gentlemen, (Vaughn, Confluence and Gemsearcher) I cannot get very excited about the NWT. I believe that management is right in trying to maximize exploration and production in the lowest cost base areas first.That means RSA, Angola and Brazil. I think the Gold mining Cos. would be the first to agree with me.Take a look at Barrick and Placer. They are surviving because of their low cost of production while The Royal Oaks et all are all closing down. Most of the low cost mines are located in areas of low cost labor.... Finding a huge diamond lode in Canada would be nice but as nice as Brazil. Political problems are everywhere: Inco has found the largest nickel deposit in the world in Canada (Voisy Bay) but the local government (NFLD) is making ridiculous demands on the Co.so the Ni. might stay in the ground for a long time. As a shareholder, I want management to produce the highest rate of return as possible and thus generate the largest cash flow as possible. That to me means RSA and Angola right now and I am prepared to live with the risks.If not,I would switch to another Co. As for the price of our shares, I have been advocating a small share buyback program for some time. It is a great investment and we have the cash to do it. I also think that the recent downward pressure is entirely caused by margin calls. (Strangely, most of the selling has been done by firms I had never heard of and the short position on SUF is nil.) We all seem to agree that we have a stock that is greatly undervalued. I am happy about this slump as I view it as a great buying opportunity........ Well I think I have said enough, time to go hit a Maxfli

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