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

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To: Letmebe Frank who wrote (6452)	2/20/2001 10:04:41 AM
From: Letmebe Frank	Read Replies (1) of 7235

Slightly higher head grade, better recovery, lower capital costs. Great news! biz.yahoo.com SOURCE: SouthernEra Resources Limited Messina bulk sample test work yields positive results TORONTO, Feb. 20 /CNW/ - SouthernEra announced today that metallurgical test work on an 80 tonne underground bulk sample taken from its 70.4% owned platinum group metals ("PGMs") Messina project in South Africa has confirmed the mined head grades and metal recovery rates contained in the Messina project feasibility study of February 2000. Based on the test results, the grinding circuit design will now be simplified which will result in a reduction in capital costs and operating expenses at the mine. The underground bulk sample was taken from the UG2 and Merensky reefs on the 200 level in late 2000 and was shipped directly to Mintek, an independent metallurgical laboratory specializing in PGM projects. The run-of-mine ore was blended by Mintek for test work at 60% UG2 and 40% Merensky, emulating the planned Messina product mix at full production. The objectives of the work carried out by Mintek were to confirm feasibility estimates of mined head grades and PGM recovery rates. A further objective of the work was to determine whether alternative crushing and grinding circuits would improve the economics of the Messina project. The test results and comparisons to the estimates utilized in the feasibility study are as follows: Bulk Sample Test Results (5 PGMs plus gold) --------------------------------------------------------------------- Feasibility Bulk Sample Estimates Test Results ------------------------------- Mined Head Grade (grams per tonne) 5.68 6.19 Recovery Rates: Run-of-mine ball mill 94.8% Rod mill 85.7% 93.3% --------------------------------------------------------------------- Because of the increased size of the equipment planned for the full-scale mill compared to the pilot plant scale of the laboratory, the recovery rates from the actual Messina plant are likely to be 2.5% to 5% lower than those achieved from the test work, but should still be 3% to 5% above feasibility estimates. A further positive outcome of the Mintek work is that a run-of-mine ball mill should achieve approximately the same PGM plus gold recoveries in the floatation circuit, as would a rod mill. The use of a run-of-mine ball mill instead of a rod mill will allow for the removal of the secondary and tertiary crushing circuits from the Messina project which will reduce both the capital and operating costs of the concentrator. SouthernEra's Chairman, Dr. Chris Jennings stated that "all the test work to-date on Messina has confirmed the estimates made in last year's feasibility study. We are now increasingly confident that the projections made in that study will be met or exceeded." SouthernEra Resources Limited is a diamond mining and exploration company and an emerging platinum group metals producer. The common shares of SouthernEra are traded under the symbol SUF on the Toronto Stock Exchange. SouthernEra owns 70.4 percent of Messina Limited, which is listed on the Johannesburg Stock Exchange under the symbol MES.

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