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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: Famularo who wrote (1737)7/7/1998 2:10:00 PM
From: Joe Boster  Read Replies (2) of 7235
 
Dear Frank;

Like you I got involved in the diamond stocks when the Canadians discovered diamonds in the NWT. I believe this "New Frontier" will eventually blossom, as did the gold mining industry in the 80's. Mining giants like American Barrick, Placer Dome and Newmont Mining made millions for their investors (and the gold price is still declining). It's just a matter of time before we see the same happening to diamond mining.

However, to get the diamond mines in Canada into production is very costly and takes time, therefor I also started looking at diamond mining companies involved in Africa. I bought SUF because I liked the idea of getting a quick cashflow from Marsfontein in order to develop their more expensive projects. I still believe this is can be done.

In my research I came across another company involved in Africa - Global Diamond Resources (GDRS). Their management has extensive diamond mining experience and two of their properties are about to start producing. I believe they also have the ability to generate income in the short term. It seems like it has become very difficult to raise money for mining, so a company without the ability to generate it's own capital for expansion, pretty much doesn't go anywhere.

It might be worth looking into this one. They have been trading big volumes and the price hasn't started moving yet.

Joe.
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