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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: Peter Bourgeois who wrote (2367)1/19/1999 10:47:00 AM
From: VAUGHN  Read Replies (1) of 7235
 
Hello Peter

Can't answer with assurance why SUF can't jerry-rig a barge. LB indicated that flying one in certainly was not an option. On the other hand, why dragging one in by cat or Pasepartu can't be done might also be a question. I know the lake is very shallow in places perhaps even to the point of making a barge impractical in the summer, but that is just conjecture.

Might also have to do with DIAND regulations or possibly Fisheries. Who knows?

On a seperate matter. MIY indicated that almost all of their shares free trade while I believe a block or two of CAV's do not. MIY's do appear to be mildly more liquid even in the off season.

Regardless, it would seem as if the math suggests that CAV shareholders might have roughly a 10 to 15% dilution advantage upon any discovery. Having said that, I am mildly more confident that MIY has a lesser need to dilute and raise capital than CAV.

For all intents and purposes, CAV is more or less a one shot play for the time being, while MIY has a nice piece of MacDonald Mines and their Cuban gold play. While I believe they definitely want to see that developed, management is well aware just how out of favour gold plays are with the market.

Hope I can have a ride when you launch it.

Regards
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