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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: VAUGHN who wrote (753)3/24/1998 7:19:00 PM
From: VAUGHN  Read Replies (2) of 7235
 
Hello All

Had a short conversation with SUF management today and without getting into too much detail, I had a couple of questions answered.

Understand that these are my words and not SUF's, but apparently the heirs lawyer got around the Mining Regulations and Randgold/SUF rights through an anomaly in the way the regulations are worded. For what ever reason, by transferring the heirs claim to the new corporation and registering it, it is treated as if it preregistered Randgold/SUF rights. The actual reasons why have to do with some vagaries of SA law I gather.

Regardless, apparently we should keep our eyes on the newswire as it ain't over til the fat lady sings.

Also, apparently DW did discuss the Royce Claims with SUF awhile back but never followed up those discussions with a proposal. SUF theorized that the GMD targets may well be part of the Cross Lake cluster but there is obviously far too little information at this stage to do anything other than speculate.

Management was not prepared to give me a technical reason why they have so much "faith" that there are pipes on the Munn/Back Lake claims. So based on what little I know, I would have to guess that they have either done some age dating that suggests a younger emplacement age of the source of the Yuri kimberlite than the nearby dyke kimberlites and/or they are working in predominantly granite rather than the more easily fractured mudstones. Hence a greater possibility of pipe emplacement and/or preservation, rather than dykes.

Hopefully, HB's efforts and success over the next few weeks and months will finally put this issue to bed.

Regards
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