SOUTHERNERA (t.SUF) Message Board

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

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To: Confluence who wrote (2737)	4/6/1999 10:26:00 PM
From: whisky	Read Replies (1) of 7235

Confluence I am new to this thread, so I hope you won't mind me interjecting a few thoughts on the cnb/suf deal in Brazil. This is an advanced project as you have mentioned,with teck as the previous operator. SUF/CNB will be starting up an alluvial operation on the project along with some more extensive exploration on 3 pipes outlined in the release. CNB has been working on the canabrava project for roughly 5 years. So this project is more advanced than you might think. In discussions with Dr. Moore it was outlined to me that SUF exploration work on these 3 pipes will begin very soon. So in essence I think that you will see some major developments on these 3 pipes a lot quicker than your projection of 2 years. CNB were talking about taking some larger bulk samples of these pipes last year, before teck decided to pull out. I might add shareholders of cnb were very happy with there decision to pull out. I think that in the next 6 months to a year at the outside, we will be taking some very large bulk samples and then on to the feasibility stage on 1 or more of the pipes. Granted when you have over 700 priority pipes to evaluate it is very difficult to determine which one do you go with first. Luckily cnb has extensive geochemical analysis on many of these pipes, so it is certainly more advanced than one might think. It has been stated to me that when CNB/SUF also get there alluvial operation up and runnning in the next couple of months that the cash flow from this operation will be more than adequate for both partners to meet there exploration committments. CNB through a JV with Paramount ventures are also exploring primary source targets on a number of kimb/lamp pipes on their jv properties and are also setting up an alluvial operation on one of there JV properties. Cash flow from this alluvial operation will very easily provide this JV with sufficient cash flow to meet their exploration committments. Over the last 4 months, CNB was approached by all the major diamond companies in the world about the Canabrava Project. It is a real plus for both companies that they have decided to join forces together. In Ontario, they were approached by 3 different diamond exploration companies and elected to go with Kennacott. Your information that SUF turned down this project is news to me, but of course your information may be better than mine, however as stated by Dr. Moore the mineral chemistry in Ontario is second class to no where in the world. Of course if I was SUF I would definitely want the more advanced project which is the canabrava project in Brazil. If you would like to find out more about CNB I welcome you to go over to the canabrava thread as there is some excellent information.

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