SouthernEra conference call scheduled
TORONTO, Oct. 1 /CNW/ - On Thursday, October 4th, SouthernEra Resources
Limited will host a shareholder and investor conference call at 10:30 a.m.
Eastern Standard Time. SouthernEra's President and CEO, Patrick C. Evans, will
make a 10 minute presentation to be followed by a 30 minute question and
answer period.
During the last several weeks SouthernEra has made significant progress
in advancing its Messina Platinum Group Metals ("PGMs") mine and Klipspringer
diamond project, both located in South Africa. At Messina, 100% project
funding is now in place, floor price protection for 100% of platinum and
palladium production over the next five years has been secured and the
Accelerated Production Initiative plant is now producing and selling PGMs.
Full production at Messina of Phase 1 production (160,000 ounces of PGMs per
annum) is expected to be reached in less than 15 months at a projected cash
operating cost of under US$150 per ounce.
At Klipspringer, diamond production has commenced at the newly
commissioned No. 4 level. De Beers Consolidated Mines and Steppon Investments
Limited (a De Beers associated black empowerment group) are contributing 100%
of Klipspringer's capital requirements to earn a 50% interest in the project.
Klipspringer is now scheduled to produce at 33,000 tonnes per month (186,000
carats per annum) during the third quarter of 2002, approximately six months
ahead of schedule and 18% above feasibility estimates.
The local telephone number for the conference call is 416-695-5251. For
callers outside the Toronto area, the Toll Free number is 1-877-461-2814. To
participate please dial in up to five minutes ahead of the scheduled start
time. This call will also be broadcast live on the internet and may be
accessed by connecting to www.southernera.com or www.newswire.ca/webcast/ .
The play back number for those who miss the live conference call is
416-695-9728 or Toll Free at 1-888-509-0081.
SouthernEra Resources Limited is an independent producer of platinum
group metals and diamonds. The company also has an extensive PGM and diamond
exploration program. The common shares of SouthernEra are traded under the
symbol SUF on the Toronto Stock Exchange.
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For further information: SouthernEra Resources Limited: Patrick C.
Evans, President and CEO; or Rudi P. Fronk, Director; at Telephone:
(416) 359-9282, Fax: (416) 359-9141, e-mail: inbox@southernera.com
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