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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: VAUGHN who wrote (590)1/17/1998 4:39:00 PM
From: Squidman  Read Replies (1) of 7235
 
I'm new to SUF and haven't seen any of the analysts reports although
I've seen some of their price targets posted on this thread. Can
anyone tell me what fraction of these valuations were being attributed
to the disputed M1 property?

I am also unclear as to importance of M1 in connection with the soon
to be completed processes plant. I understood that development of
M1 was a top priority but that the plant would be processing
kimberlite from several deposits in the Klipspringer project. Does
anyone know how much material from each deposit was intended to be
processed? And if the M1 dispute turns out to be a long-term problem,
can the plant capacity be filled by material from the other
deposits?

I hope that this dispute turns out to be a minor annoyance that can be
quickly resolved. These claims always seem to come out of the
woodwork just before a valuable project is developed. However, I also
don't like to discount the ability of lawyers to change a trivial dispute
without merit into very very long-term trivial dispute
without merit. In such a case I'd like to know whether the claimants
have the power to seriously disrupt the company's plans or whether
SUF can simply wait it out while mining their other deposits.


Finally, does anyone know if the conference call connected with the
last press release was recorded and can be accessed? I tried to ask
SUF but haven't received a response.

Squidman
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