SOUTHERNERA (t.SUF) Message Board

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

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To: Letmebe Frank who wrote (6792)	1/26/2002 11:23:26 PM
From: Letmebe Frank	Read Replies (2) of 7235

Thanks to Georges2 of ...egad!...Stockhouse -> only good post made this year over there... Volume over 9MM shares in last 10 days and I wonder how many of those shares were exercised warrants from the 3.5MM issue that could be converted at $3 until early April? There are 45MM shares outstanding on a fully diluted basis. Subtract the 7MM shares of RTZ, the 1.5MM shares in stock options and the 3.5MM warrants and we get a float of 33MM shares. This means that 28% of the float has changed hands in 10 days.....an extremely high number by any standard! If this happened to any other Co., there would be speculation that two things could happen: 1) An important announcement is coming or 2) There is a takeover in the works. What about: 3) Mr. Market believes cash flow will be there soon, and knows the price will be over, say....6 in a year, and thinks its worth bidding up the share price to a very modest multiple?? Didn't he post over here once before?

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