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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: PHILLIP FLOTOW who wrote (2651)3/30/1999 9:38:00 PM
From: VAUGHN  Read Replies (2) of 7235
 
Hello Phillip & Goalie

Sorry if I sound a little catty but I think the long winter is finally getting to me.

Anyway, I think that Hilton Ashton wrote the obit on any Angola play for the time being.

Message 8553467

Argyle which can barely make ends meet at $42 / tonne has more than twice the value per tonne that Camafuca has at $17 / tonne.

If the cost of mining normally, without all of the security is roughly $15-$25 per tonne, what does that tell you about the likelihood of Camafuca being put into significant production in the middle of a war?

I am sure there are some exceptional stones to be found, but how much rock does SUF have to move, water diverted and bullets dodged to recover them?

SUF would have to have a huge capital outlay and physical plant to throughput 40,000,000 tonnes of ore to make any profit at the best of times. Why would the company take that kind of risk now considering the meager potential for reward?

OK, so there may be a few higher grade phases identified. Lets even say they run at $42 / tonne. But is the company going to sink multiple millions into the infrastructure to mine it during a war?

Forget Angola and forget Marsfontein and forget Uruguay and forget the Ukraine.

Mine the hell out of the M-1 and Leopard/Sugarbird Fissures, and find some NWT pipes!

If we all say it together maybe we might be heard… WHERE IS THAT NR HOWARD?

Regards
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