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Gold/Mining/Energy : SOUTHERNERA (t.SUF)

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To: Goalie who wrote (5776)	3/5/2000 11:17:00 AM
From: gemsearcher	Read Replies (1) of 7235

Hi Goalie , Confluence at al. It seems that we are all squished hamsters beating a very dead horse. The simple truth is that there does not appear to be a living soul left in the Canadian mining investment community that believes CJ any more. Instead of acknowledging that investors are entitled to be justifiably disappointed by woefully late delivery ( Messina - March/2000 instead of Aug./99 , Camafuca - ? instead of Aug./99 , Klipspringer ramp-up - ? instead of July/99 , new PR - ? instead of June/99) , CJ has consistently refused to accept responsibility and placed the blame on others , principally the very investment community that he should be trying to befriend and whose trust he should be trying to engender. Remember the "North Americans don't understand PGM's" desperation NR of last summer , the disparaging remarks made in respect of the Canadian securities regulation made in the November conference call and the "dissident shareholders forced my resignation" comment to the press last October ?. My sentiment on CJ's approach in the foregoing respects has gone from sadness to regret to outright anger. I think Steve Banning has to quickly take this company by the throat and certain of its management by other parts of the anatomy and demonstrate that SUF can deliver what and when they say they are going to deliver and accept responsibility when they don't. He also has to convince the investment community that SUF has a business plan that is something more than running around the world cutting deals. Otherwise - and it may be too late in any event - the person(s) who have been slowly accumulating this puppy over the last 6 months are going to step in , steal the co. for $4.50 and get a windfall when they strip out the diamond properties for a couple of bucks per share and then take the co. public again a year from now as a pure PGM play and reap the rewards that the higher multiples (certainly higher than 4) that those plays enjoy. Great Weekend to All.

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