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: Valuepro who wrote (6558)	5/24/2001 8:48:51 AM
From: Paul Bilecki	Respond to of 7235

Are we going higher today?

To: Valuepro who wrote (6558)	5/29/2001 8:27:44 PM
From: VAUGHN	Read Replies (3) \| Respond to of 7235

Hello Valuepro et all Thanks to you all for sharing your thoughts. Some seem to agree with me, most don't. In general, my take on the weighting of those who don't is that they seem to have an immediate rather than a medium or long term profit motive. In general my sense is that they bought SUF within the last year or so rather than ten or even five years ago as I and many others did. As I said, it is entirely understandable that if someone bought at $1.50 or $4.50 over the past year, that they would want to make a quick buck and move on to the next opportunity. As I also alluded, I would rather make $80/s five years from now than settle for $5 or even $10/s now with limited upside without major first world discoveries. Gemseacher, I think we generally agree as I also said management has done two major things over the past year. One was to put SUF's financial house in order, and the other was to establish and reinforce in the market's mind a focused and unwavering game plan. I just do not want to abandon that plan nor mortgage our future simply for a quick boost in our share price. That only rewards the short term speculators, not the long term shareholders. I sent the following message a few days ago. Board of Directors Southernera Gentlemen, I understand the Board is considering giving up a % of Messina in return for third party financing advanced/expedited mine development. If that is true, I believe the Board should seek shareholder approval at the AGM in the same way you are seeking approval for issuing more shares and diluting our equity. Anything else is a betrayal of the trust we bestowed on you when we supported you in the ouster of the previous Board and President. I and many other loyal, long time shareholders supported SUF and Chris through the hard times because he and the company treated shareholders with respect and refused to dilute our equity or give away our assets like so many other junior Canadian mining company Boards routinely do. If you abandon that policy and our long-standing trust, you will be abandoning that loyalty and our support. Regards I copied that message to a number of major SUF shareholders with whom I routinely correspond. These are people who directly own and who have control and/or influence over very large blocks of shares. A few have written back with generally similar views and I have permission from one to paraphrase his/her reply. Dear Vaughn, SouthernEra, in order to get two additional blocks of PGM mineralization, may well have to enter into a JV with a black empowerment group. That is RSA reality. A far more important matter is the resolution to issue 14 million shares in private placements. These should be offered to existing shareholders first. I can understand, but do not approve of private placements by junior explorers where shareholders cannot finance grass root exploration. That does not apply to Southernera however. SUF now has properties in development, near to production, and should reward shareholders, particularly small holders who have supported the company through the bad times. I will vote against the resolution, write to the Directors expressing my views and be withholding my votes on the stock option resolution. Sincerely Finally, I received an e-mail today from Patrick Evans in reply to the one I duplicated above. I responded requesting his agreement with its duplication here. If I receive his agreement, I will copy the thread. In closing, I want to thank most who posted their thoughts back to me as the tone was generally much improved over what we were all reading just a years ago. The thread seems to be slowly returning to the civility and quality it had for so many years and I for one appreciate it. Regards to all. Vaughn