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Gold/Mining/Energy : Crystallex (KRY)

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To: viper who wrote (8254)	4/17/1998 8:13:00 AM
From: Mr Metals	Read Replies (1) of 10836

Here's one to watch. SouthernEra Resources Limited - Post says firm mulls bridge financing to cover De Beers fight SouthernEra Resources Limited SUFShares issued 256952651998-04-16 close $8Friday Apr 17 1998The Financial Post reports in its Friday, April 17, edition that SouthernEra Resources told investors yesterday that South African banks have offered to lend it up to US$20 million in bridge financing to continue its diamond mining and exploration work. The Post's Peter Kuitenbrouwer writes that SourthernEra will need cash as it braces for a court battle with De Beers Consolidated Mines over a diamond cache, known as Marsfontein farm, in the Transvaal. SouthernEra says Marsfontein was the company's immediate source of cash flow and was going to be the money to develop the rest of Klipspringer and Angola. But the ownership of Marsfontein is now in question. On Monday, De Beers said it had bought a prospecting contract at the site from 29 people claiming to be heirs to the mineral rights. Cannacord Capital analyst David James says that all bets are off on SouthernEra stock now that its "dandy deposit" is in dispute. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com Mr Metals

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