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

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To: VAUGHN who wrote (7193)	11/23/2004 4:19:50 PM
From: Letmebe Frank	Read Replies (1) of 7235

Hey Vaughn, Thanks for the ITF Info. Here is an interesting post from SH. Seventh_son, any comments? Southern Platinum Corp Annual production of 120,000 oz plus nickel and copper Based on current quarter(3rd) revenue = $500.00 per oz of pgm plus gold (Includes nickel and copper) Therefore quarterly production should be 30,000 0z. Plus nickel and copper Therefore revenue should be $60 mil year based on current quarter revenue per oz Revenue per quarter should be $15 mil for 30,000 oz of production Million Therefore quarterly mining target of 30000 ozs= Revenue 30.0 Costs per current quarter Mining 14.5 Amortization 4.1 Interest 3.3 G&A 0.5 Total 22.4 Net 7.6 Comments Rand mix as per quarter 3 How will increase in ozs produced affect mining costs ? Ammortization will be higher with higher production 2.0 plus Interest costs should be lower with debt repayments They currently have rates that could almost be classified as -0.5 credit card rates. 6.1 Net Plus additional mining costs Less efficiencies Plus/minus the rand factor stockhouse.com

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