SOUTHERNERA (t.SUF) Message Board

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

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To: Blue who wrote (3832)	6/29/1999 1:32:00 PM
From: gemsearcher	Read Replies (1) of 7235

Hello Blue and Trev. Can an impartial observer humbly suggest that a truce may be in order? In light of the current share price and the price last May , it appears that the market does not make much of a distinction between potential bankruptcy on the one hand and healthy cash flow and no debt on the other. ;-). FWIW , I don't think that SUF was really near bankruptcy - even had Maduna not stepped in , and SUF ended up with 0% of Marsfontein , some compensation/deal for the $20 million capital investment would have been worked out , SUF would have been free to sell Klipspringer marketing rights etc. No bed of roses admittedly , but they could have bought a lot of time. I would have been worried if they had any meaningful debt. As for cash flow for '99 , I'm guessing in the $1.50 - $1.90 range 37c/Q1 , est. 50c. for each of last 3 quarters , with earnings close to $1. Regards

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