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Gold/Mining/Energy : Starpoint Gold

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To: Qwerty who wrote (1138)	4/11/1997 3:32:00 PM
From: Frank Sauer	of 2378

Qwerty, I can understand your frustration. My hope, however, is that they still have Riverstone and create some value from there. What will happen short term? If they do loose Yetwene, people will be disappointed and be tempted to sell. The price will probably go lower, especially in this nervous market. But on the other hand: it is also difficult to sell at such low prices. For small positions it's nearly not worth it. So many people may also just sigh deeply and put the stock away, looking at it again later in the year. For me it is very important to see what are the plans B? Will management have a credible plan for the company? If the time pressure is off, they may well have another chance. But it is true: it will take patience. We will not be shareholders in a producing diamond company by summer. For your perspective: STS was the biggest single investment I ever made in one company, and it hurts very badly. Especially if I think how close we have been to success! It is an extremely humbling experience, and it is very difficult to watch the situation unfold without being able to do anything about it. Warm regards Frank

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