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Gold/Mining/Energy : SOUTHERNERA (t.SUF)

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To: VAUGHN who wrote (2267)	12/12/1998 3:14:00 PM
From: Valuepro	Read Replies (1) of 7235

All, Yesterday's press release was interesting in that we now have our first look at the possible value of downslope paleo-channel gravels. 151 cpht is 1.5 cpt, and, if we use the same approximate value as from the M-1 pipe, we are looking at around US$240.00 per ton at what should be the lowest costs in the area. I'm certain these figures will later be addressed in terms of cubic yards, but for now $240 per ton looks pretty good. We might even have a few "glory hole" effects as we do with the paleo-channels in Angola. The PR mentions 7 meters of depth at the sample site. Does anyone have an estimate as to the surface dimensions? VP

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