Hello Frank
No question, the devaluation of the Rand will advance SUF's potential Messina pay back time frame should they choose to do so.
More than anything else, I suspect that is behind the recent appreciation but at these levels, I don't think anyone who owned SUF at $21 would call this significant.
I listened like you to the broadcast and I heard that 10 holes were going to be drilled in Yamba this year which is the first I heard about that. If a few good pipes are found, then you will see better share price numbers certainly, but not from Klipspringer or Camafuca.
The numbers from the former and politics of the latter condemn these plays to contributing little to SUF speculative or even investment value. Even RSA politics of late I am sure give institutions pause.
If something is found in Ontario again I expect some excitement, but I didn't hear that anything was in the offing.
I also didn't hear anything overly exciting about Australia, simply more possible pipes, but nothing you could pin immediate appreciation hopes to.
Ghana offers the best economic pipe potential, but then its Africa again and the market just won't reward SUF with big multiples for anything over there.
I wish CJ had picked up Jackson Inlet instead of TWG. Then you would see some wings on SUF but until loans are substantially repaid, I just don't see huge numbers in the wind.
A nice bump certainly, but $20! I don't think so...
Not a word on Brazil by the way and I believe only $3mil being spent on diamond exploration in total. Not much compared to many others with more exciting "first world" diamond finds.
Good luck though. I have nothing but the highest regard for SUF management, but I simply believe there is more money to be made elsewhere right now. I will buy SUF again, but I am sick and tired of waiting and missing other opportunities.
Regards
Vaughn |
