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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: Peter Bourgeois who wrote (59)4/17/1997 2:28:00 PM
From: VAUGHN   of 7235
 
Hello Peter

It is exasperating isn't it? I think Tomato's point is very valid however. Southernera's price has modestly increased from its December levels while even Aber and Diamet are struggling to stay ahead. Southernera is a producer with tremendous exploration and asset potential while all the others are still explorers with unharvested potential.

Personally, I think the market is radically discounting Southernera's value, partly due to its African exposure, and partly due to its lack of promotion. On the other hand while it has not announced any Canadian pipes, when it does, 2 to 6 weeks from now, I think speculative and institutional investors will start to take notice.

Remember the tourtise and the hare? Well you know what this is but it will be there at the finish line.

The stability and exposure of a Canadian play is what the stock needs. The reality of course is that they will be producing diamonds and significant revenues from South Africa and their Angolan aluvial deposits most probably for a decade before a Canadain mine can be put into production. The advantage from a trading perspective will be that the market will probably continue to treat the shares as if they are a Canadian explorer rather than a warm climate producer. That is they will probably continue to depreciate in the late fall and rise in the early spring with the annual drilling season.

The only thing likely to change this pattern is the possibility of a takeover and that can occure at any time.

You are not alone.

Regards
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