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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: rubed who wrote (28350)	3/3/2004 9:55:47 AM
From: bmccra	Read Replies (2) \| Respond to of 39344

< 5. Repeated dilution - along with missed production targets this has greatly decreased investor confidence in management. > The last financing was done above market prices and I don't have a problem with SUF for doing that deal. Financing at $6.40 versus the current $5.10 market price: "The Company has completed its previously announced equity financing with a syndicate co-led by RBC Capital Markets and BMO Nesbitt Burns Inc. of 10.00 million units at a price of C$6.40 per unit, each unit consisting of one common share and one-half of one share purchase warrant. In addition, the underwriting syndicate exercised an option to purchase an additional 2.05 million units, resulting in total gross proceeds of C$77.12 million. Each full warrant entitles the holder to acquire, at any time up to 5 years following closing of this offer, one common share from SouthernEra at a price of C$10.00 per share." Your points are valid for possible reasons that the stock is where it is, but risk/reward still looks too compelling to me and I too am overweight on this one. b