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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: VAUGHN who wrote (1515)6/10/1998 6:39:00 PM
From: Jimsy  Read Replies (1) of 7235
 
VAUGHN - DeBeers could be the biggest loosers

While some might think it is cute for DeBeers to arrange by whatever means to block SUF, it is possible that the events over the past few weeks could put into play a longer term outcome that would no longer have DeBeers in charge of CSO and their monopoly as such.

We all just witnessed the internal struggle within Indonesia for a stake in Bre-X, which of course revealed many insights into the manner in which business was being conducted in that country. This is not to infer that that the same applies to this case, but certainly the ongoing blockage of SUF will not be unnoticed in the International community.

Do NWT companies need Debeers to sell high quality diamonds to Canadians or to a few hundred million Americans just to our south who are fully employed in a booming economy? I think not. So if BeBeers is not careful here and they may already have caused too much irreversible damage, the final chapter in this case may be a new world structure in the marketing of diamonds with Debeers trying to negotiate for retaining a piece of that action.

Far-fetched? Not far I'll bet. There are a lot of very wealthy well placed people who would just love to set up a new structure for marketing diamonds, and BeBeers might have just given them the little spark they need to start the process.

There has been an enormous amount of pro BeBeers participants on this thread. If you were on a DeBeers thread - it would be interesting to see if anyone else bothered to even come to the thread.

The other loosers could be the 29 heirs who with a DeBeers victory here would get nothing. If as someone claimed DeBeers new about this all along but left it quiet for many years, it is highly unlikely that mining would start tomorrow, maybe never. So they would just get nothing.

Whether or not a balanced set of postings develops on this thread will not likely influence the outcome as far as Southernera is concerned, however it will in no uncertain terms reveal the measures to which DeBeers might attempt which will merely be sowing the seeds of their own undoing.

So there I've said it, sometimes the obvious is hard to accept, but DeBeers appears to be engaging themselves in a self-destruction exercise.
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