southern africa minerals Message Board

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Gold/Mining/Energy : southern africa minerals

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To: eric r. f. who wrote (252)	1/11/1999 9:50:00 PM
From: Neil Thomas	Read Replies (2) of 314

Eric, I believe the news from Caber north is very significant. It was presented in typical dry professional geology speak, stacked deposits in the same formation hosting the current and past producing mines in the Matagami area. SAF has committed 8000 metres of drilling to this news release...this is not just another press release, in my opinion. I am not up on current drilling prices but would hazard a guess and say $25 bucks a metre = $200,000 just in drill contract cost, not to mention dip tests, extras, Noranda's and SAF's time, plus core cutting-prep, analysis, interpretation and reporting. I fail to understand why SAF is at such low prices given the quality of properties in Canada, wild card Africa potential and great JV partners. I think this should be a $2.80 to $3.40 a share company. Neil

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