To all:
SUF V-P, Lee Barker, says he is optimistic the M1 controversy will be resolved very soon, now that the SA govt has thrown support behind SUF's claim to mine the rich Marsfontein diamond find. Mr. Barker was interviewed this morning by Pat Bollan on CBC Newsworld's Business News, on Canadian network television. The Minister's support of SUF was made public yesterday in a letter written by the Minister to a financial journal (The Financial Post).
Mr. Barker reiterated earlier comments seen on this thread (by Steve Baker) that under Sect 17 of the Minerals Act, the Minister has the right to adjudicate, with compensation, and that all parties involved (the heirs who claim they have the mineral rights, and De Beers)want a resolution. The longer it goes on the costlier it is for all. He mentioned that De Beers had an option on the property for 10 years, but dropped it. SUF and Randgold explored it in 1993 and found the diamonds. And under Sect 17, the statute of limitations of two years had expired without heirs re-registering the mineral rights.
Generally, its a recap of what's been said here earlier, but it assures investors that the dispute will be resolved soon.
BTW, CJ, pres of SUF, is still in SA where negotiations are continuing. |
