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Gold/Mining/Energy : Precious and Base Metal Investing

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To: russwinter who wrote (3171)	4/22/2002 2:13:39 AM
From: Gord Bolton	Read Replies (2) of 39344

Platinum prices ready to rock and roll. businessreport.co.za Southernera SUF.TO has got lots of it. 16 million ounces above 1000 meters. Most of the story remains to be told on this one. southernera.com Who wants to play fill in the blanks? southernera.com How about doubling down? southernera.com Does anyone else see 60 million ounces? Messina operating cost estimated at US$80 per ounce. The feasibility study estimated a total peak funding requirement for Messina of approximately 460 million Rand or about US$75 million at that time. Total peak funding requirements were revised upward to 488 million Rand when project financing was completed in September, 2001. As at December 31, 2001, this total capital requirement equaled approximately US$41 million, a 45% percent reduction from the feasibility estimate. Similar benefits are evident in operating cost estimates. The feasibility study estimated average life-of-mine operating costs of R918 per ounce of 5 PGMs plus gold, net of base metal credits. In U.S. Dollar terms at that time, this amounted to an average operating cost of about US$150 per ounce. Using the December 31, 2001 value of the Rand, these operating costs have been reduced to about US$80 per ounce, a reduction from the feasibility study of approximately 47%. newswire.ca Operating margin now appears to be about US$450 per ounce. One of these days Mr. Market is going to catch on. Phase II feasibility due by mid 2002. Phase I production in 3Q 2002. Any one want to bet that they are not leaning on things to get going sooner? southernera.com API in production now. newswire.ca

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