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Strategies & Market Trends : Winter in the Great White North -- Ignore unavailable to you. Want to Upgrade?

To: ralfph who wrote (2710)	8/8/2002 11:55:49 AM
From: marcos	Read Replies (2) \| Respond to of 8273

' SouthernEra JV awarded South Africa platinum properties SouthernEra Resources Ltd SUF Shares issued 51,580,800 Aug 7 2002 close $ 4.70 Thursday August 8 2002 News Release Mr. Patrick Evans reports SOUTHERNERA JOINT VENTURE AWARDED NEW PLATINUM PROPERTIES IN ... The South African government's Department of Minerals and Energy has awarded three new platinum properties in the vicinity of the Messina platinum mine to the company and its 50-per-cent joint venture partner Mvelaphanda Resources. Mvelaphanda Resources is South Africa's leading black-controlled platinum mining company and, like SouthernEra's 70.4-per-cent-controlled subsidiary Messina Limited, is listed on the Johannesburg Stock Exchange. The three properties awarded to the SouthernEra joint venture are Rooibokbult 121 KS, Turfpan 122 KS and Dwaalkop 455 KS. These properties are located in the area between Messina's current phase 1 (Voorspoed section) and phase 2 (Doornvlei section). It is anticipated that a prospecting contract will be concluded between the South African government and the joint venture in the near future, following which a prospecting permit will be issued. Commenting on the awarding of these new platinum properties, SouthernEra's president and chief executive officer, Patrick Evans, said: "We are very pleased that our application for these new properties has been successful. The joint venture expects to be able to commence a prospecting program over the new properties as soon as the necessary permits have been issued. These properties have the potential to add significantly to the current known resources at Messina platinum." The SouthernEra joint venture had also applied for the property to the east of Messina's current phase 2 (Doornvlei section), known as Mphahlele location. However, this property has been awarded to a third party. (c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com ' .... pre-open looks strongish but not crazy, 20k bid at 4.75, 3k offered 4.75 .... this release by itself is no big deal imho for the near term, political risk is more significant .... rather, perceptions of political risk [edit] - at 08h56 pacific, bids coming in, 10k at 5.00, 10k at 4.85 .... woo, 08h58 - 25k bidding 5.00 .... just pre-open playing around, could come a little flurry .... i too was thinking of reentry soon ... [edit 09h01] - opened 5.11 ... shares will come out cheaper though, i think