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

To: GULL who wrote (1098)	5/12/1998 12:06:00 PM
From: VAUGHN	Read Replies (3) \| Respond to of 7235

Hello All "C's" Morning Coffee: SouthernEra Resources (SUF : TSE : $9.10 : Issued 30.4M) has been engaged in a dispute over the mineral rights of a portion of the farm Marsfontein 91KS, which hosts the M1 pipe, but has continued with the legal proceedings relating to the SouthernEra/Randgold Section 24 application to have the court expropriate the mineral rights. We understand that May 19 is the (next) key court date, and believe that if the Section 24 application is indeed successful, the court may take a month or so to effect the expropriation. This issue remains the critical issue in the SouthernEra picture and second-guessing litigation is not a comfortable area for us. In the NWT, we understand that drilling has indeed stopped for spring break-up on the Munn Lake/Margaret Lake projects with Kalahari Resources (KLA : VSE) and Island-Arc Resources (IAR : VSE), but some lake-bottom, indicator-mineral till sampling is still being done. I think the sell-off in IAR and KLA pretty much tells the story. Regards