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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: Sans Souci who started this subject5/23/2001 9:51:11 AM
From: geoffb_si  Read Replies (2) of 7235
 
Some easily overlooked items in the Annual report:

- "A feasibility study on Messina's Doornvlei section (Phase 2), where the reefs outcrop at surface, is expected to commence by September. This will lay the foundation for expanded production." (With the reefs outcropping at surface, there is the potential that Doornvlei could double Messina production for a relatively small capital outlay)

- "...we have a high level of confidence that Messina will grow into a 300,000 tonnes per month mine within the next 5 years." (This translates into 600,000+ oz/yr from Messina in 5 years.)

- "The primary objective for SouthernEra's PGM initiative is to locate, evaluate and acquire additional advanced PGM projects in Africa. A number of such prospects were evaluated in 2000 and it is expected that at least one acquisition will be made in 2001."

- "However, with the current emphasis on developing its PGM business and generating cash flows from Klipspringer and Camafuca diamond projects, SouthernEra is curtailing its early stage exploration programs in 2001." (Still actively working in NWT, S. Africa, Gabon and Australia, though.)

- "Gabon Project: This is perhaps SoutherEra's most exciting early stage exploration project."

- "Mackay and Back Lake Projects: Over the last twelve months a new kimberlite indicator mineral train has been defined on the Back Lake property."

Regards
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