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

To: VAUGHN who wrote (639)	2/21/1998 12:32:00 AM
From: Goalie	Read Replies (2) \| Respond to of 7235

Hello Vaughn: Thank you for the complimentary "handle"... yes, your answer is, as always, very informative. Now, to go back to an earlier question -- so that I may learn more about the geo-chem of these stones -- what might be considered a high G10 count? In percentages, perhaps, and what makes up the G10 values? Looking forward to your answer, and BTW, nice to have you back after a few days' absence. Regards. (The Wannabe Dominator)

To: VAUGHN who wrote (639)	2/21/1998 3:40:00 PM
From: Valuepro	Respond to of 7235

Hi, Vaughn ...glad to see more action on this thread. I have to take exception to your estimates on that 106 ct stone, though. One can not expect that after cutting (into one or more stones) the total weight will again reach 106 ct. I'm guessing here, but I think one must anticipate 1/4 to 1/3 of the weight being lost. Depending upon the shape of the raw stone, that could be more or less, but certainly nothing very close to 106 carats. ...or maybe I misunderstand. Perhaps you were referring to 106 ct total weight of two raw stones? Best, ValuePro

To: VAUGHN who wrote (639)	2/23/1998 9:22:00 AM
From: Goalie	Read Replies (1) \| Respond to of 7235

Hello Vaughn: Thanks for your e-mail. Regards. Goalie.

To: VAUGHN who wrote (639)	3/1/1998 12:56:00 AM
From: POLARBEAR	Read Replies (1) \| Respond to of 7235

Hi VAUGHN/ALL, I'm doing some research on RANDGOLD, trying to come up with a fair value for their many holdings. In hopes of saving me hours of reading and researching, could you or someone else here be so kind as to give me an estimation of the value of Randgold's chunk in this joint venture? Thanks in advance, and of course rooting for a favorable court decision. Personally from what I've read, it sounds like a lame lawsuit to me. Best Wishes, POLARBEAR PS. Here's a recent article from my usual S.A surfing: 13 February 1998 Production to start despite rights row David McKay SOUTHERNERA Resources, the Toronto-listed diamond company, is to start production at its Klipspringer project this month despite a mineral rights row over a section of the Northern Province venture. The dispute concerns a pocket of mineral rights at the Marsfontein farm of Klipspringer which SouthernEra Resources was to mine first. SouthernEra president Christopher Jennings said yesterday the company would start production on an alternative, but lower grade, site - the 100%-owned Sugarbird kimberlite blow. Jennings hopes the Klipspringer project will make SouthernEra Resources one of the world's largest diamond producers, though still well behind De Beers. SouthernEra already produces 25 000 carats a year from sites in Angola. The Klipspringer project, set on 50 000ha of land consisting of about 19 farms, will eventually lift annual production to 1-million carats. Pit preparation on the Sugarbird site is to start next week. The blow is expected to contain about 75 000 tons of kimberlite material grading about 1,57 carats a ton to a depth of 60m. Preliminary valuation on a small parcel indicates that diamonds recovered from the blow will average at least $85 a carat. Diamonds from the Marsfontein farm are expected to be worth $100 to $120 a carat. Commenting on the minerals rights dispute, Jennings said it would be "very worrying" to outside investors if the company lost the case. In terms of existing law, SouthernEra attempted to trace the mineral rights owners, but found the minerals had not been registered under a new name since 1920, when first claimed. Shortly before starting mining on the farm, several people claiming to be heirs of the original mineral rights holders came forward. The matter is to be heard in court on February 24. The Marsfontein farm is 50% owned by SouthernEra, which has the right to build up an interest of up to 65% of the project from SA mining group Randgold. SouthernEra, which has so far spent about $180m on the project, was continuing exploration elsewhere at Klipspringer.