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

To: VAUGHN who wrote (827)	4/14/1998 7:49:00 PM
From: Tomato	Read Replies (1) \| Respond to of 7235

SOUTHERNERA RESOURCES LIMITED - MARSFONTEIN MINERAL RIGHTS DISPUTE TORONTO, April 14 /CNW/ - On April 3, 1998 SouthernEra Resources Limited (SUF-TSE), and joint venture partner, Randgold & Exploration Company Limited (the Applicants), applied to the High Court of South Africa to seek relief against NGS Minerals (Pty) Limited (NGS) and Jacobus Francoise Jordaan (the Respondents) to prevent them from alienating or encumbering certain mineral rights on the farm Marsfontein 91 KS in the Northern Province of South Africa. The request was for an interdict to apply and remain in full force and effect until the Applicants' request for expropriation in terms of Section 24 of the Minerals Act, 50 of 1991, had finally been determined. Despite the above, counsel for NGS informed the Applicants' counsel, immediately prior to the scheduled court hearing on April 14, 1998 that they had concluded a prospecting contract for Marsfontein on April 9, 1998, with De Beers Consolidated Mines Limited. NGS and De Beers have refused to divulge the terms of the contract. SouthernEra and partner Randgold will continue to seek expropriation under Section 24 of the Minerals Act, and will also seek to deny the intervention of NGS in the earlier Section 17 hearing which is still before the courts. It is anticipated that De Beers will now become a Respondent in both the expropriation and interdict applications as outlined above. SouthernEra and Randgold are of the opinion that their legal position in these actions remains unchanged.