SOUTHERNERA (t.SUF) Message Board

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

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To: gemsearcher who wrote (3372)	5/16/1999 1:48:00 PM
From: DIAMOND JIM	Read Replies (1) of 7235

Hi gemsearcher..I find Sudhir's approach here would be valid if SUF were a purely speculative play like WSP or the like. With all respect,his comments do not seem to reflect SUF as the second largest PRODUCER in SA with increasing production throughout the coming year but focus on the early exploration projects. We will hear about the "intense anomalies" M10-12 soon. The indications on Camafuca are potentially explosive in terms of the resource base-I would be willing to bet that pipe goes into production before any of Aber's. I agree the "market" may have initially looked at the PGM development as a loss of focus, but the political brownie points earned in SA and the highly favourable terms and cash flow will change this perception. All said, the stock has been played lower like a bull fiddle this year and is way undervalued by all measures with the bad after taste of the M1 fight..but that is over and the JV is working. Can the 'market' justify prices much lower than 4.50? Only if it regards SUF as a pure spec company with negative P/E's for forseeable future. Regards DJ

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