Improved shareholder communications!
FYI all - I had a courtesy telephone call from SUF Dir Rudi Fronk. I congratulated him on his appointment; he was pleased with the make-up of the new board - directors have a wide range of expertise! His phone call is part of SUF's campaign to improve communications with shareholders. The new BoD, he says, is aware of the importance of shareholders' need for regular information/communications about company activities and will live up to it on an ongoing basis. And,he emphasized, its a "hands-on" BOD!
Here are some of the points we touched on:
Messina financing: He believes Messina to be an excellent property for the future of SUF. BOD hopes to make a deal without dilution to shareholders; BOD has expertise in striking such PGM deal (Lewis Fox has recently been involved in a similar financing project). Its a complex deal which will not be concluded in haste. I asked about "spin off" - the phrase used by CJ at the diamond conference. Spin-off could mean a number of things, depending on the interpretation given the phrase -- ie. jv, partnership, etc... Its too early to say. However, in mid-July the BOD will continue its discussions with a number of SA banks. BOD will visit Messina.
New Pres/CEO: interviews with candidates (no names were given) are currently under way and hope to make appointment by mid-July when BOD goes to SA.
Klipspringer: expect to have feas. results in mid-July while BOD is in SA.
Camafuca: expect to deliver feas. to partners in about two weeks; when partners sign off on it, report will be released.
He was upbeat about the future of SUF; he was frank with his comments, and showed a lot of class -- (I've been a shareholder since '92 and with the exception of CJ, I never had a call from any of the old departed directors!)
I can safely say the SUF Class of 2000 IS a different breed!
(sorry, Vaughn, Jimmy, et al, I did not ask about Brazil or Yamba, etc ... caught by the surprise of the call -- ;-) !
Regards, Goalie |
