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: Letmebe Frank who wrote (6905)	6/5/2002 9:19:05 AM
From: Letmebe Frank	Read Replies (1) \| Respond to of 7235

TRADING HALT!!!!! biz.yahoo.com SUF 2002-06-05 (provided courtesy of BCE Emergis E-News Services) register to receive future releases from BCE Emergis E-News Services SouthernEra Secures C$36.25 Million in Equity Financing Toronto, Ontario -- Proceeds to Fund Messina Mine Expansion and Rights Issue The Board of Directors of SouthernEra Resources Ltd. announced today that it has accepted a bought deal equity proposal to sell five million common shares at C$7.25 per share for gross proceeds of C$36.25 million to a syndicate led by National Bank Financial Inc. and BMO Nesbitt Burns Inc.. The syndicate also has the option to acquire an additional two million shares on the same terms and conditions at closing which is expected to occur on or before June 26, 2002. SouthernEra President and CEO Patrick Evans said this financing will contribute towards the funding of Messina Limited's proposed US$22 million mine expansion announced April 22, 2002. "We will also use the proceeds of this financing to take down our share of rights in a proposed Messina rights offering and also take up additional unexercised rights in order to increase our percentage ownership in Messina Limited. A rights offering will enable Messina to restructure its balance sheet and reduce its debt, including money borrowed from SouthernEra which now totals approximately US$7.5 million," said Mr. Evans. SouthernEra currently owns 70.4% of the issued and outstanding shares of Messina Limited, a South African company listed on the Johannesburg Stock Exchange. Messina Limited owns 100% of the Messina Platinum Group Metals project, which at full production is now expected to produce approximately 220,000 ounces of precious metals per year, primarily platinum and palladium. The securities offered have not been registered under the U.S Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. SouthernEra Resources Limited is an independent producer of platinum group metals and diamonds. The company also has an extensive PGM and diamond exploration program. The common shares of SouthernEra are traded under the symbol SUF on the Toronto Stock Exchange. Subject to regulatory approval by the Toronto Stock Exchange. FOR FURTHER INFORMATION PLEASE CONTACT: SouthernEra Resources Limited Dr. Sally Eyre, Vice President, Corporate Affairs Telephone: (416) 359-9282 Fax: (416) 359-9141 e-mail: inbox@southernera