Anooraq Resources: Platinum and Palladium Project Message Board

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Gold/Mining/Energy : Anooraq Resources: Platinum and Palladium Project

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To: Claude Cormier who wrote (34)	2/10/2000 6:17:00 PM
From: russet	Read Replies (1) of 73

Hi Claude, Compare SUF with PTX.t. Same Merensky and UG reefs present on both properties with comparable assays, very close to each other, same resource size except SUF is further advanced with a bankable feasibility study and is ready to close the deal and start construction at the end of this month. PTX.t has market cap of 120 million and SUF is 60 million, but as soon as the index funds stop selling (Feb18), and SUF releases the feasibility details and the deal closes(end of Feb), I bet that gap closes quickly with a quick double in SUF share price. The resource at Messina is thought to be considerably larger than indicated at present, as the reefs are open in strike and dip. The Voorspoed and Doornvlei zones are the only ones included in the bankable feasibility study, but SUF estimates the resource could triple with exploration drilling between these zones and downdip and downstrike strike to east and west. The reefs in the adjacent zones are thought to be offset, from the zones above. The reefs are steeply dipping, making mining much cheaper than in other areas of this complex. Visible chromite marks the reefs, so it will be cheaper to follow and mine with much less dilution than in other areas. The proximity to the Klipspringer mine means overhead costs can be spread between the two mines. A trained workforce already exists. The shareprice of SUF has been pummeled by selling of index funds and angst ridden shareholders. It is due for a big rebound to reflect the underlying value for Klipspringer and Marsfontein cashflow. Camafuca will be partnered out in a separate company. The company has cleaned up many of it's problems that have dogged it for the last year, and the announcement of Messina getting the green light, together with Klipspringer value per tonne creeping up as undiluted stoping ore is processed should push the share price back up to the respectable levels it had early last year ($6to $10) by the next AGM in May. Should get a nice push as we get ready for the PDAC. If so, the beer there will taste very good. Cheers

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