SOUTHERNERA (t.SUF) Message Board

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

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To: Peter Bourgeois who wrote (493)	11/18/1997 3:04:00 PM
From: VAUGHN	Read Replies (1) of 7235

Hello Peter 2,000tpd should support the stock price some where around $20/s but new pipe results are the key to increases over and above 1997 trading highs. Winter buying in anticipation of spring drilling on Back Lake, Lac de Gras or those circular Klipspringer anomolies are the key right now to multiples. While it is short sighted, I don't think the market is giving any real weight to Angola as I believe it is perceived to be far too risky with all that has gone on in Africa this year along with the recent troubles in that country. Aluvial/fluvial cash flow aside, SUF need Angolan stability before the market will appreciate the real worth of its assets there. MTC Regards

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