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: VAUGHN who wrote (6508)	5/2/2001 8:16:19 AM
From: gemsearcher	Read Replies (1) \| Respond to of 7235

Hi Vaughn. Long time no talk , hope all is well. I don't think the Messina JV spec should be viewed as a giveaway. It may turn out to be a "swap" involving more than just the known resource. Having spoken with the new management/BOD , they are fully aware of the value of Messina and any decision to sell a piece would only happen (I think) if it meant SUF could parlay into something bigger. Regards.

To: VAUGHN who wrote (6508)	5/2/2001 9:27:27 AM
From: Peter Bourgeois	Respond to of 7235

Hello Vaughn, Thanks for that. I have to agree. No giveaways, full speed ahead on Messina and Klipspringer production. The ones who are wishing for a takeover just want a quick turnaround on their money. If one of the Majors wants Messina it can only mean that they are after the big money that it represents. Better in SUF's coffers that in some Major's portfolio. Keep well! Cheers !!! Peter

To: VAUGHN who wrote (6508)	5/2/2001 9:39:42 AM
From: geoffb_si	Respond to of 7235

VAUGHN: I agree with gemsearcher in his view of the BOD/new mgt. IMO, Southernera is looking at all avenues on Messina, in order to maximize shareholder value. Several months ago, SUF mgt told me they were going to assess all possibilities--going it alone or JV or empowerment group--in order to find the best development scenario. Just because SUF is talking with gold majors (Placer, Barrick), doesn't mean that they have to accept any JV offer. If the right offer came along that developed the property into a 500k oz/yr producer in 2 years, with all costs taken up by a JV partner, then that offer should certainly be reviewed by mgt. We're in the bean-counter phase, and the good news is that SUF has many offers/possibilities on the table. Geoff

To: VAUGHN who wrote (6508)	5/2/2001 12:20:00 PM
From: russet	Read Replies (1) \| Respond to of 7235

Are you saying that if Barrick offered you $30 a share, you would refuse?? SUF(Messina) in its present form will take a decade or more to develop Messina to such a value, but the deposit is worth much more to a big pocketed Senior producer that could quickly put the infrastructure in place to take advantage of the deposit. There are still mining risks involved. They may wait to see how successful and efficient SUF is at mining the narrow reef. I thought you would like SUF to use the money they get from the Messina sale to find the real "stuff" in Yamba anyway,...and maybe a big pipe in Australia ;-))