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

To: J-R who wrote (6806)	2/2/2002 11:09:31 AM
From: teevee	Read Replies (3) \| Respond to of 7235

Could someone please explain - coles notes version of course - SUF's exposure to diamonds? I am interested okay...I'll keep it short: 1. Currently a SA diamond producer with long life reserves 2. Additional diamond mine in permitting for development 3. Offers the best and broadest exposure to diamond exploration on 3 continents. 4. Tied to DeBeers and their diamond distribution system.

To: J-R who wrote (6806)	2/3/2002 11:37:49 PM
From: marcos	Read Replies (1) \| Respond to of 7235

Southernera was always about diamonds, back as far as i remember, mid-90s or so, i came to it mid-story ... how they got into PGMs was - they found a nice pipe on the Marsfontein claim in RSA with high-grade diamonds, mega-buck potential or so it seemed at the time [check out bigcharts.com for their 'all data' page for suf.to, twenty loonies plus this thing was trading for] ... so naturally with such a find some 'heirs' to the claim slithered out from under some rock and bingo, deBeers had the fat part of profit in hand at precious little cost to them ... even to i who has experienced the way of life of la mordida this was offensively in-your-face violation of all that is truth and beauty, but whatever, that was life under the oligarchy du jour of the place There is much on this in back posts on this thread ... also here in the old threads - wwwa.stockwatch.com ... posts called 'streetwires' by WillP tend to include copious history and background, but there are others of merit as well Anyway, suf is peacefully mining away after having a big share in M1 ripped off, when what do you know, not far away they are offered a deal on a mine called Messina, which while its ore is PGMs it fits in two ways with suf - 1. it is real close to where they are operating, and 2. it has the same sort of tricky ground in which they are mining dykes for diamonds at Klipspringer .... so, having the very few requisite nickels in the treasury and deeming this to be a good deal, and despite the fact that PGMs weren't all that hot at the time, they bought a major share in Messina for cheap ... well what do you know, PGMs have a big rally, suf sells some ahead to some auto manufacturer under a 'floor price agreement', whatever that is, they get Messina financed under something called the Accelerated Production Initiative [do i have that right guys? - got a beer in my smart hand] which is basically small-scale production of high-grade on the way to developing the mine .... now they are rolling, Phase 1 coming onstream late this coming summer, serious cash flow without big financing risk a/k/a dilution Because of the PGM dollars involved, suf is not now imho about diamonds ... however, they retain diamond claims all over - production at Klipspringer, big pipe in Angola called Camafuca which may or may not be mined in our lifetimes and who knows, may even show some minimal profit one day, they've got claims in the NWT and Aus and all over ... main diamond explorer guy is Dr Chris Jennings who some like and some don't, i like him a lot but i hope to god some bean-counter puts a limit on his exploration mad-money budget until this thing is rolling in cash, which time should not be too very far away on its present course ..... so suf was about diamonds, and will likely be again some day .... one fair-sized pipe in a country where the national sport is other than graft and/or shooting each other, and that would dwarf Messina, mega-buck producer though it may be But a short answer to your question? - no one really knows at this time -g- .... cheers ps - the real dip in the shareprice, down to .90 or so, that was at a time when a threat existed of some yanquis getting control and moving the thing to Denver and, it was feared, picking its bones as they belched their foul excuses for song ... but that's all over now, got stability in management</knock on wood> pps - ¡beware the fascist oppressors! ... just generally speaking