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

To: Andrew who wrote (4886)	11/5/1999 11:10:00 AM
From: Shaw	Read Replies (2) \| Respond to of 7235

Hi Andrew, If we're not at the bottom, the company and its schedule will be out of whack for the near term future. Presumably they are working on getting Messina financed. If they do it at $1 instead of 2 or 3 the dilution will be severe. I wished (hoped) that some of the buyback would've been initiated at 2.50 or 3.00. Then when they hit the capital markets for Messina financing the dilution would've been OK. If they spent $1 million to support the stock a couple of months ago there's little doubt the stock would be $1.80 and they could've saved the shareholders some dilution. Also, less dilution, by definition helps EPS and P/E multiples. $10 is easier to reach with less dilution. All MO, Dean

To: Andrew who wrote (4886)	11/5/1999 11:37:00 AM
From: gemsearcher	Read Replies (1) \| Respond to of 7235

Hi Andy. The selling over the last few days appears methodically purposeful. It is clearly not tax loss or disgruntled selling. Interestingly , the main selling houses are "offshore" based (CC and DM) , the buyers (FM , NB and Gordon) are domestic. It looked briefly yesterday that SUF may have bounced when FM bought up to $2.05 ; this was quickly rebuffed when sellers flooded the offer @ $2 and again @ $1.90. Of course , the foregoing analysis and $1.40 will buy a medium coffee @ Tim Hortons. Regards