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

To: Donald McRobb who wrote (3725)	6/21/1999 9:10:00 PM
From: Factfinder	Read Replies (1) \| Respond to of 7235

Has anyone got a recap of the AGM today?

To: Donald McRobb who wrote (3725)	6/22/1999 11:19:00 AM
From: Donald McRobb	Read Replies (4) \| Respond to of 7235

Canaccord Capital Daily Letter DailyLetter Analysts' Breaking News Tuesday, June 22, 1999 SouthernEra Resources (SUF : TSE : $5.15) David James, P.Eng. (204) 988-9602 Recommendation: HOLD 12-month target price: $6.00 52-week price range: $9.10-4.35 Shares O/S: 29M (f.d.) Market capitalization: $149.4M Yesterday, SouthernEra announced that the kimberlite resource of the Leopard fissure (Main), along a 3.45 km strike length 500-630 m below the surface outcrop, is estimated at 4,567,700 t. The in-situ grade is estimated at 0.73 c/t. At US$120/carat, the operating profit from a 1,000 tpd fissure operation may generate a pre-tax mine operating profit of US$10-15M/year. With a market capitalization of about C$150M, we regard SouthernEra as a HOLD. The Klipspringer fissure systems most likely contain a multiple of the above tonnage and it will be interesting to see how the mining economics on a new fissure mine work out: most of South Africa's fissure diamond mines were developed on an undercapitalized/labour intensive basis.