South Pacific Resource (C.SHF) Message Board

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Gold/Mining/Energy : South Pacific Resource (C.SHF)

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To: zarman who wrote (1892)	11/6/1997 1:05:00 AM
From: Robert Dydo	Read Replies (1) of 1980

Hello It is very positive step for SHF and first good news in months. What I have to say is that Ron is right and as long they don't start drilling/exploring and firstly they have to close the deal, situation does not change too much. Teck is one of the big ones but this rio "whatever" as you call it is big too (check the web site riotinto.com )and it did not mean anything for the price. You probably know by now that Teck has many ventures and not all of them are success, which can be simply check by their jv partners' market performance. You may aquire info about other Teck's Indonesian jv with Akash(AKH)so you will find to your surprise that it still did not mean anything for the price or property development. Drilling will be the turning point which may not come soon since Teck and MM gold are the operators now(Teck as a operator is a really good thing). Teck is busy everywhere so it could be months before things start heating up. They have two years for one property and three for another and as you may recall it 9 mln was a SHF's budget for 1997 once so money bag is not that huge now (6 mln). SHF is looking at 27%in Mirith and 25.5% in Masao(Masupa Ria)when all the options will be exercised, so whatever is there is just the quarter of value will belong to SHF which people already are taking in calculation. Since no estiamtes where made on those properties in the past, stock will continue most likely trade at cash flow per share values. Overall it is good that Masupa Ria will have further development, it was always the best property of SHF and I am glad that work will continue there sometime in the future. Like maps says SHF will be around for years to come and he is right. Regards Robert Dydo

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