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

To: teevee who wrote (3974)	7/13/1999 3:20:00 PM
From: Confluence	Read Replies (2) \| Respond to of 7235

Hello teevee, Your comments were insightful as usual. Care to add facts/details concerning "South Africa's spiralling decent (sp?) into the abyss"? Perhaps this explains the recent foray of Placer Dome into RSA with the purchase of 50% of the South Deep gold project for $235 million. I hope you've decided to trade SUF; perhaps you've offered some stock for sale? Its funny, but SUF now has in production a fissure mine, profitable within a couple months, much like your friends at WSP aspire to. (As an aside, how are the relations in the NWT between the chiefs and WSP's partners at Diavik?) Thank you for your comments on emotional investing, and thank you for pointing out, as the stock may be bottoming, that it has been headed in the wrong direction. Sage advice (what was your prediction for $value/ton at WSP? $400/$500/$600?), for sure. Any other social commentary is always welcome. Your pal, Confluence

To: teevee who wrote (3974)	7/13/1999 4:20:00 PM
From: gemsearcher	Read Replies (3) \| Respond to of 7235

Hello Teevee. Don't kid a kidder. :-). Actually , I think the market is tracking SUF's "spiralling descent" into the richest pipe in the world and wants to see evidence of cash flow post M1 that warrants a conventional multiple. Klipspringer is not blue sky - 4.6 million tonnes proven @ 60 cpht recoverable @ US $100+/carat; that # will likely at least double. Rest of Marsfontein will shortly I think be proven to have a much longer life post M1. Camafuca not blue sky - substantial proven reserves , core sample suggests grade estimates understated for some parts of the pipe by a factor of 3(that's the great thing about a proven asset - you can always sell it (BTW , i think I know of an eager buyer for this one :-)) to hedge political risk. Messina is a no-brainer. In summary , I value the assets after discounting for risk - this one is a buy for some , a definite hold for others , and as recent activity has shown us , apparently a sell for a few. I take and appreciate your perspective; IMHO , there is more reason to go long here than any other diamond play I've seen. Regards and Good Luck to you as well.