Kalahari Resources Makes Major Move Upwords Message Board

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Gold/Mining/Energy : Kalahari Resources Makes Major Move Upwords

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To: Jevs who wrote (62)	9/4/1997 12:33:00 AM
From: Blue	of 349

Jevs, I haven't double checked this though I did recently read the annual reports. Don't get your hopes up that they own any SUF shares. The good thing though is that the JV's with SUF (and there are others that have yet to be explored) require very minimal spending on Kalahari's part, and Kalahari has a "good chunk". Given the prospects and mineral chemistry "odds", KLA seems undervalued at only $24 mil market cap. Also, Southernera's agreements with Kennecott are very favourable....Kennecott must earn its share of SUF's property and SUF only has to kick in significant cash if things pan out. KLA only has to pay into the Mackay Lake/Back Lake properties at the 'prefeasibility' stage if I remember correctly. Of course this is very good because KLA isn't exactly rolling in dough right now. I don't have time to dig this all up but I know that Southernera is well financed and got good deals with Kennecott. Of course with heavy cash flow starting sometime in 1998-ish from their rich new properties in SA the cash won't be an issue for SUF.

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