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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: Donald McRobb who wrote (3627)	6/9/1999 11:02:00 AM
From: Donald McRobb	Read Replies (2) \| Respond to of 7235

canaccord.com Daily Letter Analysts' Breaking News Wednesday, June 9, 1999 2. HOLD SouthernEra Resources (SUF : TSE : $4.88 : Issued 29M f.d.) James * Munn Lake caustic fusion results SouthernEra Resources (SUF : TSE : $4.88) HOLD 52-week price range: $9.10-4.35 Shares O/S: 29M f.d. Long-term debt: nil Market capitalization: $141.5M (f.d.) Early yesterday, SouthernEra released the caustic fusion results from two diamond drill holes and one sonic drill hole taken from the kimberlite at Munn Lake, NWT. The aggregate weight of the sample was 42 kg yielding 14 diamonds in total, two macros and 12 micros: this is quite a small sample and the counts of 0.5 macros per 10 kg or 3.3 diamonds per 10 kg should be regarded qualitatively rather than quantitatively. The NW and SE kimberlite strike extensions are to be tested, potentially leading to a mini-bulk sample program. The size of the drill core sample and the diamond count per kilogram is quite similar to the count of 3.9 diamonds per 10 kg yielded from 581.3 kg of kimberlite float processed earlier from the southern peninsula (down-ice) of Munn Lake. These initial results are not as spectacular as some of the early Lac de Gras results, but we regard Munn Lake as being in an early stage. Five or six islands and the north shore are marked as summer drill sites. We regard SouthernEra as a HOLD and its partners Kalahari Resources (KLA : VSE : $0.27) and Island-Arc Resources (IAR : VSE : 0.27) are speculative buys. We may see initial results from the Winspear/Aber project at Snap Lake next week and possibly the Mountain Province (MPV : TSE : $2.50)/Monopros (De Beers) AK bulk sampling results in mid-summer.