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

To: Peter Bourgeois who wrote (1780)	7/20/1998 8:36:00 PM
From: S. E. Baker	Read Replies (3) \| Respond to of 7235

Hello, All. I spoke with Nick Sayce on Friday (7/17). He was extremely emphatic that DeBeers is not dragging their feet. He says DB is very aware that they must mend fences and appear to be a good partner. Nick also said that most of the personnel who will be mining the M1 pipe are SouthernEra people. Work is already going on to prepare the site for mining operations. Nick said that the permit was in process, that it could be issued sometime this week but more probably next week. Obviously, it could get hung up in the bureaucracy past the end of this month, but he didn't think it would. I asked about alluvial gravels. He stated that there were gravels next to the M1 pipe and that they will be looked at. Apparently, SUF is considering expanding their plant, either with a substantial addition to their current plant or the construction of a second plant on the Marsfontein property next to the M1 pipe. We'll have to wait to find out if SUF decides to do either of these. Nick said there are enough targets and enough land to look for more targets to keep their exploration team busy for several more years. That certainly sounds good. I asked about the Angolan situation. He said that they are currently experiencing no security problems and that nothing material had occurred so far. He said that, obviously, the situation could change at any time. So far, though, operations are continuing at their sites. Cheers! Steve