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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: gemsearcher who wrote (6309)10/17/2000 12:36:21 AM
From: VAUGHN  Read Replies (1) of 7235
 
Hello Gemsearcher

This on the wire today:

SouthernEra Announces Conversion of US $1 Million Debt to Common Shares

TORONTO, Oct. 16 /CNW/ - SouthernEra Resources Limited today announced
that US $1 million of the US $5 million in Exchangeable Capital Units issued
on March 1, 2000 to finance part of the acquisition of 70.4% of Messina
Limited had been converted by the holder to common shares. A total of 728,696
common shares were issued at the strike price of Cdn. $2.07 per share.
The Messina Platinum Mine project in South Africa is currently developing
both the 150 meter and 200 meter levels underground to remove bulk samples of
the Merensky and UG2 reefs to confirm previous metallurgical testing.
Negotiations are proceeding with regard to the financing of the project.
SouthernEra Resources Limited is a diamond mining and exploration company
and an emerging platinum group metals producer. The common shares of
SouthernEra are traded under the symbol SUF on the Toronto Stock Exchange.

Regards
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