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: Peter Bourgeois who wrote (526)	12/17/1997 11:54:00 AM
From: Mike Petriv	Read Replies (1) \| Respond to of 7235

Long on Southern Era to the tune of 4000 shares. All the recent news has been great and sets the stage for a rally in the New Year. There does seem to be a cloud on the horizon: potential political instability in South Africa. In 1999 Nelson Mandela will retire as president and most likely be succeeded by Thabo Mbeki, a one-time Marxist who studied at the Lenin Institute in Moscow. He is now reputed to be a pragmatist and will eventually take over a country that the World Bank ranks as one of the most unequal societies in the world. And behind the scenes there still lurks Winnie Mandela, Mr Mandela's populist ex-wife. Blacks are now in political control in South Africa, but if there is not a meaningful increase in their standard of living there will be trouble in the future. That said, I am praying for big things in the Back Lake area.

To: Peter Bourgeois who wrote (526)	12/17/1997 3:10:00 PM
From: VAUGHN	Read Replies (1) \| Respond to of 7235

Hello Peter Yes, I do know people who have been there. It is a very large lake, and like many up here, it is part of a vast system of interconnected lakes, the largest, (Courageous Lake, McKay Lake, Almer Lake, Clinton-Colden Lake, Artillery Lake) are all interlinked and drain into the East Arm of Great Slave Lake. Most of the other major lakes in the Slave Craton (Lac de Gras, Point Lake, Takjjuq Lake, Contwoyto Lake)drain either into the Coppermine River system or the Burnside River system both of which run into the Arctic Ocean. The actual size of Back Lake, give or take, is about 18km long and Munn Lake is about half that size +/-. It is deep in some areas and shallow in others. The environmental lobby has only modest influence in the NWT and draining it would not be that expensive in relative terms, but the real power lies with the land claimants and Federal Government. I doubt either Federal Fisheries, DIAND, the affected Bands, or the GNWT would seriously consider any proposal that would completely drain it, or any lake of significance. Aber's numbers could perhaps be used as a rule of thumb. I believe they are suggesting approximately $60,000,000 to dyke around their five pipes on Lac de Gras which are relatively near to shore and mostly in water no deeper than 20m. Adits under the lake would probably be driven to bulk sample any potentially economic pipe, so potentiall they would also be available to use as a mine access however, most pipes are enriched near surface. See Abers NR's on 418. Much of the value of many of the pipes is found in the first 150 to 200m. There is also a real concern with rock (kimberlite)integrity as it is more often than not, a consolidated pyroclastic conglomerate. I would imagine that there would be real mining safety concerns about underground mining (long term) large volumes beneath large lakes. Shotcreating and cut and fill can only deal with so much pressure. I suspect you will find that the pipes, if they exist, are relatively close to shore so I would not be too concerned from that perspective. Regards