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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: Elizabeth Andrews who wrote (5761)3/3/2000 1:14:00 AM
From: Gord Bolton  Read Replies (2) of 7235
 
Buy some more on any weakness Elizabeth. This stock is seriously undervalued and is likely to be taken over if the market does not respond soon. The Bankable says that a small section of Messina is worth US$120 million.
SUF was able to aquire 54% of the property, 54% of the US$10 million in the kitty and the tax write offs for a little over US$10 million.
CJ made a brilliant move in picking up the property last spring. The annual report is going to look very good. 2000 will be another very good year for cash flow and profits from Klipspringer/Marsfontein.
I am expecting some very pleasantly surprising numbers from Camafuca. In fact the numbers are already there if you have a good calculater and know how to use it.
Buying SUF shares at todays price is like buying a dollar for a dime from folks who don't want the dollar.
Have to admit the new CEO was a little less than inspiring and it was probably a bit of a cruel trial by fire to subject him to the conference call before he has got a key to the john.
However, look to the cashflow and the properties future potential. Exploration happening on four continents. SUF is due for a new discovery.
And it is diamond season at Yamba. SUF is going to $5.00 soon. And this is coming from someone who started buying at $7.00!
And keep in mind that Kroodal were able to start from scratch and have their Platinum mine up and running in about 1 year.
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