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

To: Rick W. who wrote (690)	3/13/1998 10:18:00 AM
From: VAUGHN	Read Replies (1) \| Respond to of 7235

Hello All Nere it is. SOUTHERNERA RESOURCES LIMITED - POSTPONEMENT OF APPLICATION CONCERNING FARM MARSFONTEIN TORONTO, March 13 /CNW/ - SouthernEra Resources Limited (SUF-TSE) reports that it and its joint venture partner Randgold & Exploration Company Limited will be seeking a postponement in the Application contesting certain mineral rights on the farm Marsfontein, part of the Company's Klipspringer Project property holdings, and the location of the M1 kimberlite pipe. A corporation, which is believed to be a corporate vehicle of the original Applicants, purporting to be the registered holder of the private mineral rights on the farm Marsfontein, has applied for leave to intervene in the present proceedings. This development creates a new dimension to the proceedings and raises additional issues which necessitate a review of the approach adopted to the Application by SouthernEra and Randgold. SouthernEra's legal counsel are investigating the validity of the underlying transaction pursuant to which the private mineral rights have been registered in favour of the intervening Applicant. The validity of the basis for the Application for leave to intervene is also being investigated. These steps are likely to cause a delay in the hearing and finalization of the pending Application. Their playing hardball! Regards