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

To: Valuepro who wrote (760)	3/25/1998 4:26:00 PM
From: Valuepro	Read Replies (1) \| Respond to of 7235

>>> NEWS OUT <<< - Marsfontein Farm Mineral Rights Dispute, Request For Expropriation - Klipspringer - Full Design Capacity Attained in Plant MARSFONTEIN, South Africa, March 25 /CNW/ - SouthernEra Resources Limited (SUF-TSE) and its joint venture partner, Randgold & Exploration Company Limited, have made a request to the Minister of Mineral and Energy Affairs in South Africa for expropriation of certain mineral rights on the farm Marsfontein 91KS, under the terms of Section 24 (1) of the Minerals Act, of South Africa. This section permits expropriation by the Minister, if such action is deemed to be in the public interest, provided that compensation for the expropriated property is mutually agreed upon, or failing that, is an amount determined by arbitration in accordance with the Arbitration Act, 1965 or by any competent court. Mineral rights to the portion of the Farm Marsfontein containing the M-1 kimberlite pipe are the subject of an ongoing dispute with a group of purported heirs to these rights. This group lodged an application opposing the acquisition of these mineral rights under section 17 of the Minerals Act by Randgold and SouthernEra, (Press Release January 15th, 1998). Subsequently a corporation, Miliar Investments (Pty) Limited, now known as NGS Minerals (Pty) Limited, believed to represent the alleged heirs, and purporting to be the registered holder of the mineral rights in question, applied for leave to intervene in the proceedings. (Press Release March 13th, 1998). SouthernEra and Randgold continue to vigorously oppose the previous application brought by the applicants as well as the joinder application brought by Miliar, and are reviewing the validity of the mechanism by which Miliar has become the registered holder of the disputed mineral rights. KLIPSPRINGER - Diamond Production and Plant Performance The new plant and recovery section have now been tested for some days at the full design capacity of 2,000 tonnes per day. As of 20th March, a cumulative tonnage of 11,157 tonnes has been processed from SouthernEra's 100% owned Sugarbird Blow producing a total of 9,101 carats, for a recovered grade of 81.6 carats per hundred tonnes. Of these diamonds, 0.81% weigh more than 10 carats per stone, 5.6% weigh more than 5 carats per stone, 20% weight more than 2 carats per stone and 38% weigh more than 1 carat per stone. The largest stone recovered weighs 14 carats. An additional 1,248 carats, recovered from the 100% owned Leopard fissure, are on hand. Elsewhere on the Klipspringer Project property, 3 new strong kimberlitic soil anomalies have been detected and a vigorous program of follow-up work is underway to define the sources of these anomalies.