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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: Donald McRobb who wrote (4620)10/4/1999 12:31:00 AM
From: russet  Read Replies (1) of 7235
 
Hamster comparisons,

Think we better look at SUF as a PGM producer, because the diamonds SUF owns appear to be worth very little. Take a look at Dia Met,...produces 271,527 carats for 6 months (132,530 carats for first 3 months, so the increase in production over the last quarter sucks) and has revenue of $39 million for 6 months ($15.5 million for first 3 months, but they acknowledge they are highgrading). Profit for 6 months $13.5 million ($.45 EPS)(first quarter $3.7 million) Share price of Dia Met is $26 with 30.4 million shares out.

SUF for their last 6 months produced 190,000 carats for revenue of $25.5 million. Profit was $6.9 million ($.26 EPS) thanks to writeoffs and writedowns of $3 million, so the buggers could have made $9.9 million($.38 EPS). Share price of SUF is $2.50 with 27 million shares out.

Market concludes, SUF diamonds are worth 10% of Dia Met diamonds?
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