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

To: VAUGHN who wrote (757)	3/25/1998 3:11:00 PM
From: JOHN	Read Replies (3) \| Respond to of 7235

TO VAUGHN: I have been reading this thread with interest for some time now. You have stated that the M1 Pipe in the Klipspringer Project is not as important as what the apparent heirs believe it to be. If this is indeed the case would it not be in Southernera's interest to just dump this M1 Pipe and concentrate on the rest of the Klipspringer Project? Does anyone have any idea as to the value of the M1 mineral rights? What would you rate Southernera's success in circumventing this quirky law that is postponing the mining on the M1 Pipe?

To: VAUGHN who wrote (757)	3/25/1998 6:30:00 PM
From: S. E. Baker	Read Replies (1) \| Respond to of 7235

Hi, Vaughn and Goalie. Thank you for your responses. Most thoughtful and reassuring. I have also seen today's news release setting out SUF's decision to ask for expropriation and an arbitrated settlement. Like you, Vaughn, I have great respect for the management and employees of SUF. We've been invested since just after Klipspringer was discovered, after a very helpful conversation with Howard Bird at the San Francisco Mining Conference in (I believe) the fall of 1994. I have not had the opportunity to talk with Chris, nor have I felt the need, since I have always found SUF's actions thoroughly professional. Like you I sleep very well about this one and have never felt the need to do anything but sit back and watch them succeed. This legal problem is a pain but not something I panic over. I know SUF has many ways to achieve success. I'd say that today's news release indicates that SUF is indeed confident and wants to force a settlement so that they can start work on M1 as quickly as possible. Although I would want anyone with a legitimate claim here to be taken care of, this looks like a typical harassment suit. Perhaps forcing the matter into an arbitrated settlement, where the amount of the settlement is determined by third parties, will get the pipe into production and get the heirs what they deserve (even if it's zero). My thanks to all on the thread for informative and helpful posts. Part of the pleasure of being in SUF is monitoring and participating in this thread! Steve