SOUTHERNERA (t.SUF) Message Board

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

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To: PHILLIP FLOTOW who wrote (4614)	10/2/1999 6:56:00 PM
From: gemsearcher	Read Replies (1) of 7235

Hello Phillip and (gotta love that handle) ogod. Very good posts. Thank you. A few thoughts: 1. I doubt we will see a "positve earnings surprise" from Q3. M1 grade declining and too early to assess expanded Marsfontein resource to permit longer amortization of Randgold payment. That said , I think (hope) latter will be determined by year-end , thereby permitting restatement of Q2/Q3 earnings. 2 "new management/positive earnings surprise". The signals are out there that CJ wants to shed some of the Presidential burden and refocus on exploration. IOW , I would not be surprised if a new Prez (CJ would stay on as Chairman) appeared soon. Messina looks better and better - it will close in November - production ramped up from 60K to 80K tpm , PGM prices moving increasingly higher. 3. Y2000 will see much lower EPS - too early to tell Phillip but .23 looks low (but not ridiculously low). 4. In sum , my guess is that the bankable will prove Messina as a 25 - year mine life at 60-80 cents EPS for SUF. The real question is whether in these day-trading days the market will leap to Messina or wait it out. I guess we'll soon see. Regards and a good weekend to All.

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