SOUTHERNERA (t.SUF) Message Board

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

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To: Andrew who wrote (5865)	3/23/2000 12:57:00 PM
From: russet	of 7235

PFN, very promotional group,...and good at it. They are not initially looking for a Merensky style reef with the higher gpt PGM's, but looking for a contact zone deposit like North American Palladiums Lac des Iles deposit,....low gpt, but big tonnage. Amplats is financing the program,...I imagine they will spend a few years looking before they pull the plug, unless of course they find the mother load. There is a large amount of PGM outcroppings spread out all over the property. They need to connect the dots and find significant tonnage. With the above context in mind, and about 9 million undiluted shares out, the market cap is a low $14 million at $1.60 versus PDL's $100 million. $1.60 is a wee bit high, but Amplats has given them a lot of credibility. There are a lot of small investors in this one. It will be a good case study in market action one day.

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