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

To: Confluence who wrote (1240)	5/24/1998 5:57:00 PM
From: GULL	Read Replies (1) \| Respond to of 7235

Without De Beers at present giving stability to the market in these very uncertain times I think that there would be major problems. If you look at the uncertainty in Indonesia , Japan , Korea and Russia to name a few think about the instability without their muscle. As to the M1 saga: 1.De Beers and ? did the original work. 2.SUF (+ex-De Beers geologists) and ? make the 'find'. 3.If proper procedure had been followed there would have been no court case at all.Think about it. Do you think that these heirs could have conjured up their case? How do you think the heirs felt when they found out about the M1? They approached CJ in January (8th) played open cards showed him all their DD. I have no doubt that jobs could have been created etc...but DB will also provide jobs etc... No-one asks the obvious.Why did SUF take such a risk when the knew what the value of the M1 was? The heirs were literally a phone call away. Why not negotiate a deal and start mining? How did they get to the $200,000 offer when the rest were offering so much more? The whole thing was bungled and I don't know why when it was so obvious to a few of us?