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: GULL who wrote (1848)	7/29/1998 7:58:00 AM
From: Confluence	Read Replies (3) \| Respond to of 7235

Hello Gull, Please try to refrain from the continual insults (like ostrich mentality) and veiled threats of some greater danger. If you know something, publish it. In response: 1. SUF announced last week that the mining permit was issued. They were obliged to do so because it was a material fact. Canadian securities laws must be observed. Perhaps De Beers only announced the permit yesterday, because, well, its not really material to them. Or maybe the DME advised SUF that the permit was okayed, and got around to sending it out yesterday. Irrelevant. The point is the clock is ticking on De Beers as is laid out in the joint venture agreement. 2. The excellent credentials of SUF people started with those who have worked around the De Beers monolith for several decades. When the Klipspringer project came together so quickly (1 year or so versus 9 years at Venetia) it was unsurprising that several quality people decided that SUF might have more potential, more quickly than De Beers could offer. 3. Are you certain that this is the case? Please cite something other than a letter to the editor written under stressful circumstances. De Beers clearly has an allotted time after the permit is issued to begin mining the M1 deposit. All indications from this part of the world point to a quick beginning to mining, an early indication that the JV partners are getting along well, agreeing on production oriented issues, and so forth. Again, please call the people at SUF in Toronto, or even in Jo'berg to get more details, if it continues to be the case that information from De Beers is slow or non-existent. 4. What obligations must De Beers fill? Have they not paid NGS yet? What about the other local interest in Marsfontein? I'm surprised that you and your partner Infoman are still interested in SUF. I thought you'd have had your money and been long gone. Surely De Beers isn't dragging their feet in settling with the "heirs". I can't believe that anyone who negotiated the deal with De Beers on behalf of the "heirs" would have allowed for possible frustration from De Beers. Is this why you still have an interest in SUF? As you stated before, you're only interest is money. Perhaps the many good shareholders of SUF can begin a campaign to encourage De Beers to deal more quickly/fairly with NGS. But probably not. ;) Lets hope that mining at M1 will begin in short order! Regards, Confluence