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

To: Goalie who wrote (873)	4/18/1998 5:29:00 PM
From: Tomato	Read Replies (2) \| Respond to of 7235

Let me see if I can remember my law school stuff from a couple decades back... Britsh common law countries (which I assume S.A. is) usually have their courts divided into law and equity courts (Chancery), or have both combined as in the US. On the law side, if a litigant doesn't file a claim in the time allotted by law, they're barred by the applicable Statute of Limitations. On the equity side, if a party sits by and does nothing to enforce it's rights when it had or should have had notice that its rights were being violated, it is generally barred from enforcing any claim of right by the concept known as laches. It sounds to me that the heirs or their corporation should be barred by one of these two concepts of law and equity. Having said that, I recall being a Public Defender in southern California. One day a Chicago attorney came into the office and asked to talk to me. After introducing himself, he explained that he was representing a client charged with drunk driving. "Where do you go here to pay off the judge?" he asked. The bottom line is that where an outcome is in the hands of a court, it's very hard to predict what will happen. I'm amused by Bob Bishop's handicapping of the KRY-Placer Dome appeal. One would think he would have learned something when he sat in on the oral arguments in the Gold Standard appeal and told his readers that Gold Standard would most probably win. They lost. What I'd like to know is whether or not SUF has clear title to the rest of Klipspringer, or whether more heirs could climb out of the woodwork. Also, does anyone have an estimate of the value of SUF's properties and what percentage Marsfontein is of the total. I know what CJ says. What do others estimate?

To: Goalie who wrote (873)	4/18/1998 8:15:00 PM
From: Joe Boster	Read Replies (1) \| Respond to of 7235

Hi Goalie, I apologize if it sounded like I was moaning, but, I find it difficult to be upbeat when I am down 50% on my investment in this stock. However, I have been down on this kind of investment before. I only have 5% of my portfolio in risky mining plays, and I know the risks and rewards associated with this type of investment. I don't gamble on stocks, I take calculated risks. I do get upset though when companies' management and IR departments do not fully disclose all the facts. To answer your questions, I say I got bitten because my position is down an average of $9 per share, and I realize "This ain't over yet"; I own 85,000 shares at an average price of CN$16.90; and I welcome the Bluesky effect the NWT brings to these diamond plays. I also don't intend to sell this stock; this, together with my KRT shares, will stay in the back of the safety deposit box, and if everything works out, my heirs could maybe one day drive Porsches and Ferraris too!! What concerns me more are the misrepresentations and conflicting stories out there. According to your post to Tomato (875) there are three different tonnage estimates, two different carats per tonne figures and once again, three different price per carat figures! None of those figures that you quoted, agrees with the figures that Hilton Ashton of SMK reported on Feb 23, 1998 after a company visit to the Klipspringer property in Feb. Is there an independent geological report that anybody knows about? How about the TSE? They must have one. After a proper exploration program, guessing should be largely eliminated, shouldn't it? I would also appreciate it if you could let me know where you got the 50 year life of the mine from. It's not that I don't believe you, it's just if you take the average tonnage, an average grade and an average selling price (according to the analysts) together with a 50 year life at "one of the largest fissure finds in the world" why does CJ only put a $2 value on Marsfontein? I also thought fissure were very difficult to mine as they can run deep and very narrow at places. Let's hope the Randgold's lawyers have outsmarted De Beers' lawyers. Joe. PS - Transhex is the second largest diamond producer in SA, followed by ICH and ODM.