SOUTHERNERA (t.SUF) Message Board

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

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To: teevee who wrote (6523)	5/4/2001 7:03:51 PM
From: VAUGHN	Read Replies (1) of 7235

Thanks Teevee/GeofB However, I still don't see the "why" answered. No player (Barrick) is going to finance Messina into earlier maximum production without getting considerably more in value in return for their investment. So why should SUF give that away just to be at maximum production earlier? WHy does SUF need so much more $$ now that it wants to give away part of our only proven long term potentially producing asset? If debt financing can bring us into production with payback in less than two years, why not simply use debt financing for Phase II & III? Especially at current interest rates! OK, so maybe Ghana has some incredible pipes and maybe Australia has some, and SUF mgt wants to start developing them. So fine, use debt to finance Messina into advanced production and then advance pipe development, but don't give away any part of our one long term producing cash cow. That is not what management said they were going to do last spring. If they do, they will undermine faith in any shareholder commitments. Do what you said you were going to do. Geof - when and where is the AGM? Regards Vaughn

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