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Gold/Mining/Energy : South Atlantic Resources -- Ignore unavailable to you. Want to Upgrade?

To: Gunnar who wrote (199)	3/3/2000 2:00:00 PM
From: Gunnar	Read Replies (1) \| Respond to of 225

The latest news from NAN (01 03 00) will be followed by more. Remember that the Co is in negotiations with Boliden concerning direct transportation of the ore to the big melter R”nnsk„rsverken. There is some kind of chicken race in this action: NAN has the possibility to get gov. money for the investments in the plants. The authorities have got some real interesting problems, they should make it easy to start Coïs, but just small oneïs knitting glows etc? Another Co, Scanmining, has found an open pit resource that has some problems with the metal grade. If one of the Coïs get gov. money the other one should also...- but, if Scanmining do not get that money they will have great difficulties to raise capital for there project given the information that we have at this stage of the development of their project. Their cash is leaking away. They have some concessions that I think could be of great interest for NAN. This could be a bargain in a few month! Look up there share price at www.avanza.com Look at the graph, there you have the chicken race! Some Co can afford waiting, others not... In Sweden there is a discussion around the time table. I personally find it conservative and realistic. There is a great possibility of a peak in the Zn price in a year, of course we want to benefit from that! The alternative cost / benefit of the income from Zn over USD 1 600 and direct delivery to R”nnsk„r by three heavy trucks gives us a output of 400 000 tpa and some nice money in our pockets. If NAN goes on the direct delivery alternative and do not build the concentrator there is also a possibility of a start up at Norra Norrliden without any limits given by the size of the capacity of the concentrator at Storliden. Two mines running at the same time! Thatïs why I find the time table conservative, but realistic. This opens a nice information perspective where we might have news during 2001 reporting that the final feasibility will be completed faster than first reported. The news about the independent report from Micon International from Norra Norrliden is pending. Letïs see if the Brazilian activities can match these news. Todays understatement is: No reason for selling now. Regards, Gunnar