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

To: INFOMAN who wrote (1865)	7/30/1998 6:45:00 PM
From: Confluence	Read Replies (1) \| Respond to of 7235

Hello Infoman, While I understand your frustration at the lack of communication from De Beers, I find it hard to understand why SUF's results and comments are not regarded by you or Gull as compelling enough to begin mining. Let's work backwards from some of the above posts: If the mining process begins soon, if mining contracts have been signed, if a mining plan has been developed, then surely you will agree that the necessary precedent to these events is the agreement of the JV partners. This implies that De Beers has agreed to, or signed off on, the above process. This is my understanding of how events might unfold, and renders De Beers unsurprising lack of commentary irrelevant, as stated before. I might suggest you contact the renowned diamond analyst Hilton Ashton in Jo'berg for help valuing SUF shares. You should be able to reach him through an established brokerage house. Or, as suggested earlier, please contact De Beers and ask Mr. Cumine or his cohorts for their comment on the situation. I suspect that they might leave much off the mining detail to SUF and concentrate on the sales aspect. As we know, De Beers is the best in the world at marketing diamonds, but SUF has an aptitude for bringing production online very quickly. So maybe De Beers is simply doing what is best for all concerned. I still wonder why the "heirs" opted for quick cash from De Beers rather than a royalty. Wouldn't it be neat if SUF bought out Randgold before the "heirs" got the fast cash from De Beers! Very unlikely, given the astute negotiators from NGS. As for SUF issuing press releases about M1, well, the regulatory bodies insist on full and timely disclosure of all material facts for Canadian listed companies. The permitting, the mining and the production at M1 are very material to SUF and must be disclosed to the public. As stated before, its unlikely that De Beers feels any material influence from M1, and inhabits a different regulatory regime, so their lack of news is hardly surprising. (As an aside, just wait until De Beers JV partners in Canada become starved for news if they ever get close to a production decision.) I suggest we all cease speculation until the near future, and let the publicly disclosed information be our guides. Regards, Confluence