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

To: gemsearcher who wrote (5642)	2/9/2000 9:15:00 PM
From: Gord Bolton	Read Replies (1) \| Respond to of 7235

Messina Mine Commodity change Grade US$/Tonne change Prices April99 Feb00 grams April99 Feb00 US$ per ounce per tonne Platinum 359 563 204 3.35 38.66 60.64 21.97 Palladium 349 593 244 2.65 29.73 50.52 20.79 Rhodium 817 2475 1658 0.4 10.50 31.83 21.32 Gold 280.55 312 31.45 0.3 2.70 3.01 0.30 per lb. % Nickel 2.19 4.20 2.01 0.2 9.65 18.52 8.86 Copper 0.62 0.807 0.187 0.12 1.64 2.14 0.49 Cobalt 15 15. 0.0 0.00375 1.24 1.24 0.0 92.91 166.66 73.74 Cost/tonne rev/tonne rev/tonne 34.21 92.91 166.66 profit/tonne profit/tonne 58.70 132.45 Rate of mining 1 million tonnes per year profit US$132.4 million per annum X 1.45=CDN$192 million per annum /26 million shares=CDN $7.38 per share X 54% (ownership)CDN$4.00 earnings per annum X 10 = share price $40.00 X 25 = share price $100.00 Actual results may vary materially. Please note, this model does not include the cost of final extraction of the metal from concentrate which will be done by Impala. Impala may be able to recover additional minor trace elements. This cost will not be insignificant but neither will it be onerous. I think that it may well be offset by an increase in % ownership by SUF. SUF may acquire more than 54%. I have to get that darn calculator fixed. Anybody have some good rum? Sorry about all the revisions. I thought that I had all the right numbers plugged in but between my calculater, cut and paste and going back and doing it over I ended up with some of the former values. As consolation, I hear that KRY are drilling pipes on JV ground in Uraguay!