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

To: VAUGHN who wrote (4080)	7/20/1999 12:16:00 AM
From: russet	Read Replies (1) \| Respond to of 7235

Some hamster calculations based on figures presented at AGM. President CJ's comments: ****************************************************************** First, our long life resources. More significant than even the production numbers I have just given you, is the fact that long-term resources have been outlined at Klipspringer. Here we currently have a drill indicated resource, to a depth of 500m, of 3.2 million carats that, alone, could give us 13 years of production at 250,000 carats per annum. This resource is nearly 2.5 times the current reserves at Marsfontein. What is more, this is on only 3.45km of a possible 19km of strike, which is still open at both ends. Exploration continues on several other fissures and blows at earlier stages of development. We have added considerably to the expected life of both the M1 deposit and the Marsfontein Joint Venture by planning to deepen the pit of M1. We have also found a new orebody in our M1 pit (M8); we have extensive gravel reserves and have recently announced the discovery of a number of very promising additional targets on the Marsfontein Joint Venture. We start drilling on these targets at month end. Current reserves at Marsfontein are 1.3million carats. In Angola – Our 51% owned Camafuca deposit also has tremendous potential, because of the excellent quality of its diamonds and its huge tonnage potential. Reserves appear to have been understated and when production begins, this deposit could generate substantial revenues. If the greatly increased grades indicated by our initial small samples are indicative of commercial grades, then we have an asset at Camafuca that is far greater than we ever realised. Lee Barker will tell you of our innovative plans to mine at a high production rate yet keep our capital extremely low. This property currently has a drilled resource of 8.7 million carats ****************************************************************** Hamster calculations indicate, 9.2 million carats at Marsfontein and Camafuca for SUF both are still open. 3.2 million carats drill indicated at Klipspringer but fissure is 19 km long, only drilled 3.45 km. Could be 17.6 million carats. And its open in two directions and there is more to the North. Maybe a double?? If so 9.2 million plus 35 million is 44 million carats perhaps valued at an average of $120US/carat. Hear the rustling in the cage?? That's a hamster thinking, 29.3 million shares fully diluted. equals $180US per share, open in all locations equals 1.5 carats per share, open in all locations equals .667 shares per carat, open in all locations.