Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: VAUGHN who wrote (1538)	6/11/1998 9:35:00 PM
From: Goalie	Read Replies (2) \| Respond to of 7235

Hello Vaughn: Congrats... every gem a word... Just so that you and the rest know, I have sent G&I to Coventry....! Regards.

To: VAUGHN who wrote (1538)	6/11/1998 10:11:00 PM
From: Jimsy	Respond to of 7235

Vaughn - nice to see some balanced viewpoints appearing on this thread. For if DeBeers discovered the M1 pipe as someone claims years ago, they didn't offer to hunt up the heirs, didn't offer to employ anyone in SA, or plan to develop the mine to pay any taxes to SA, and to benefit anyone in SA. That they should come along now, and offer to be the savior is ludicrous. A decision in favour of DeBeers on this will likely see the M1 treasures still in the ground several years from now, noone in SA benefitting including the government, or the heirs, and the heirs still looking for promised compensation for years to come. When they confront DeBeers fro some bucks, DeBeers will probably say they are still doing their due diligence which can go on for centuries.

To: VAUGHN who wrote (1538)	6/12/1998 7:22:00 AM
From: GULL	Read Replies (1) \| Respond to of 7235

De Beers reply to Mail & Guardian article. De Beers: The fatal flaw in the article, "De Beers took my mine" (June 5 to 11) is the assumption that SouthernEra Resources ever held prospecting or mining rights over certain portions of the farm, Marsfontein. When, earlier this year, the lawful owners of the mineral rights became aware that prospecting work was being undertaken on their mineral right holdings without their knowledge or consent, they immediately took the necessary legal steps to protect their interests. They subsequently approached several companies, and invited each to make a bid to buy the rights. The fact that another mining company had decided to prospect on this land without the appropriate authority is not relevant to the owners' right to deal with their mineral rights in whatever manner they saw fit. With a view to consolidating its various mineral rights holdings in the area, De Beers made a business decision to bid for the rights, and entered into a straightforward commercial transaction. De Beers was delighted when its bid was accepted in preference to bids by others, and, early in April, a prospecting agreement with an option to purchase was signed. Subject to due diligence being completed, De Beers will mine the deposit together with other nearby diamond properties. In order to prospect lawfully for minerals in South Africa, a prospector is required to be the holder of the mineral rights or to have the written consent of the holder, as well as to be in possession of a valid prospecting permit. It is a fact that SouthernEra did not comply on any count. So the alleged expenditure such as reported by SouthernEra in "preparing the field", can confer upon that company neither the ownership of mineral rights, nor any "rights to mine". De Beers has well over 80 joint ventures with junior mining companies and mineral rights holders, including state corporations, around the world. We are pleased that like the others, the owners of the Marsfontein mineral rights decided to do business with De Beers. The innuendo, half-truths and accusations in the article are not only misleading, but are contrary to De Beers's proven reputation as the international partner of first choice. - Andrew Cumine, corporate communications, De Beers