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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: Goalie who wrote (674)3/9/1998 1:53:00 PM
From: Goalie   of 7235
 
To all:

SUF will have a booth at the Toronto Convention Centre starting Tuesday, as part of PDAC. I will visit it tmrw. Tonight, I'll try to
track down CJ or LB if they have a suite at the Royal York.

BTW, March 9th edition of the Northern Miner has a three-page story on SUF, with the major peg being that SUF expects to recover 940,000 carats of diamonds at Klipspringer by this year's end, making it the second largest producer in South Africa after deBeers!

Northern Miner was at the site recently and quotes CJ as saying ..."we're finding kimberlite occurences all over the place..." The story also quotes CJ as being optimistic about the outcome of the current claim by the heirs for the M1 mineral rights... The (S.A.) Mining department said the heirs have no title.... our attorneys are very confident and feel that this is a classic case for the application of Section 17..." That section stipulates that the Minister can issue prospecting licences or mineral rights to an applicant in cases where beneficiaries fail to claim those rights within two years of the benefactor's death. The onus is on the applicant to convince the Minister of the applicability of the section and, as compensation for the potential resurgence of any heirs, a sum of money (in this case 980,000Rand) must be placed in a trust fund. Incidentally, the original owners died in the 1960-s and the SA govt issued a prospecting licence in 1995 and then a mining licence in 1997.
Cheers. Goalie.
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