SOUTHERNERA (t.SUF) Message Board

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

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To: Valuepro who wrote (586)	1/15/1998 3:21:00 PM
From: Goalie	Read Replies (3) of 7235

Hello VP: I agree with you on not putting out anything with NR today. The NR was written in legalese for a specific purpose and that is to put rumours to bed about any issue dealing with the M1 property. I think SUF was prudent in nipping it in the bud! The stock regrouped after a knee-jerk reaction. As CJ put it in the confc call -- its nuisance thing; don't panic; SUF is on its way to be a major force in the dimond mining field, and it has done all its requirements to the strictest in SA law. Incidentally, SA has a good legal system and its mining laws are very sophisticated. This issue is a minor bump -- suspect that the fast-tracking of the mine to production (expected on time in March) sparked this thing by a few golddiggers who expect some compensation under SA law (which should be the one million rand which has already been put aside, according to CJ). CJ further said the plant is on schedule; 200 construction workers are on the site closing off the steel work; major equipment, crusher, scrubber etc are all in place, and everybody wants production to get under way on schedule in order for the country to reap the employment and taxation benefits which come from such an undertaking. He also mentioned that the feasability study (of some form which Rangold needs as a performance guarantee) will be completed in a couple of weeks and made available to the "investment community" in a bound form in the end of this month. Also,drilling started on the project north of M1 (which is totally unaffected by the latest "hickup") and we should know very soon the results from there... again he was very encouraged by this. BTW the govt granted SUF prospecting permit for this site. And, tomorrow (Jan 16) SUF trades in the TSE 300! Sounds like a buying opportunity to me, rather than a retreat! Regards to all.

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