SOUTHERNERA (t.SUF) Message Board

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

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To: Confluence who wrote (5818)	3/15/2000 10:15:00 PM
From: Elizabeth Andrews	Read Replies (2) of 7235

Nobody is going to short this now. I believe that speculators are looking for an entry point and that will be between C$1.50 and C$2.50. Probably soon. There's obviously a problem with the minority shareholders who are being pissy not wanting to sell at the majority price and not wanting to provide capital to move forward. Maybe management should put the project into a joint venture and ask the minority to go heads up on the expenditures or face a dilution of interest clause if they don't buck up? But, management may have its collective thumb in its rear not wanting to bow to the extortion and miss the creative opportunity that exists. They screwed up by not doing a deal with all shareholders way back when. Now the metals have moved against them and the new present value is what the minority shareholders want. A gratuity if you will. So maybe SUF has to restructure to get the project on track? So I originally thought that it was a buy at C$2 and I still believe so, although the upside may now be less as more dilution is coming. The resource is there and it's just a matter of working the right deal to move the project forward. Still no value to Angola, though. Too bad.

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