Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Goalie who wrote (6125)	8/10/2000 2:11:53 AM
From: VAUGHN	Respond to of 7235

Hello Goalie, et all The radio reports were all very confusing. Local station. I listened to four different broadcasts and each time the story was a little different, but it definitely said the offer was for SUF. An earlier version reported CJ as saying another offer had been made by WSP earlier this year but that it had been rejected by the Board as being ridiculously low. The last version I listened to at 5pm quoted RT of WSP as saying no current offer existed. The radio quoted RT as saying one had been tendered back in June/July but withdrawn upon DB's run at WSP. The station said CJ had provided a very different story (actual words) in which a tender was still on the table including cash and shares and a separate tender from another party was being considered by the Board later this month. Since there has been no halt or NR, I am going to chalk this up to confusion and misunderstanding between the reporter, CJ and RT. My guess is that the facts probably will turn out to be that WSP made an offer for SUF's claims bordering WSP's Snap Lake claims but that WSP believes that it has withdrawn that offer when DB's took a run at it. When I had spoken to CJ this morning, he made no mention of any of this and indicated that HB might be taking another look at the Margaret Lake in the near future. Total conjecture on my part of course, but should we assume that the other interested party is DB's or possibly ABZ? Do they believe that WSP's Snap Lake dike extends onto SUF's claims, or are they aware of another deposit or indications of another deposit on SUF's claims? What possible other reason could there be for so much interest in claims that have produced nothing up until now? Regarding the suggestion that WSP would make an offer for SUF, I find that very difficult to believe considering the in situ value of SUF's properties and their major shareholders. WSP have their hands full finding the financing for Snap Lake! Any run at SUF would surly see our shares reflect the real value of at least Messina which presumably would mean WSP would have to come up with at least $300 million and Rio Tinto would demand a hell of a lot more than that. Could WSP do that? Not in the real world. Regards