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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: Letmebe Frank who wrote (7123)11/29/2003 12:51:19 PM
From: dara  Read Replies (1) of 7235
 
LMBF,

This was copied from their 3Q release:

"During the quarter the Company's subsidiary Messina Platinum was awarded a mining license for the 6.3 million-ounce Phase 2 (Doornvlei Section). In addition, the SouthernEra/Mvelaphanda Joint Venture was awarded a prospecting permit for the 7.86 million-ounce Phase 3 (Dwaalkop Section). Drilling in support of the Phase 2/3 feasibility study commenced during the quarter. The first phase of the drill program, consisting of 12 drill holes to a depth of 500 meters has been completed over a strike-length of 6 kilometers. Designed in conjunction with SRK Consulting, this program will enable an indicated resource to 500 meters to be established. The Company is pleased to report that the initial results from the drill program are encouraging. The final assay results are expected during December."

About Phase 4 they mention:

"The drilling program over the Phase 4 (Zebediela Section) is progressing satisfactorily and will be completed during the first quarter of 2004."

And about Gabon:

"Also subsequent to the quarter, the Company announced the discovery of an extensive gold anomaly in Gabon, West Africa. The Koumba Gold Project is located approximately 160 kilometers southeast of the capital city Libreville and covers an area of 625 square kilometers. The Company has commenced a drill program and has completed the first two of twenty planned drill holes. Cores will be split and sent to Canada for assaying."
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