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

To: Confluence who wrote (1877)	7/31/1998 9:56:00 AM
From: Guy Paquin	Respond to of 7235

All, a staring contest at the opening, a 6.10 bid looking at an 6.75 offer straight in the eyes. Who's going to blink first ? I just called the company and a TD analyst is going to released a new analysis in the near future. The IR officer asked me to called back next week for more news. He confirmed they are going to start mining next week. The key is to estimate what kind of earnings and cash flow they can generate next year. The downside risk is limited so I am to hang out here. Regards Guy

To: Confluence who wrote (1877)	7/31/1998 10:13:00 AM
From: INFOMAN	Read Replies (1) \| Respond to of 7235

Hello Confluence, A well written letter, thank you. I must assure you that there are no cracks in De Beers relationship with NGS. My concern is that SUF may not be honourable in their agreement with De Beers, taking into account their recent press releases, officially or unofficially on this thread. It would appear that they have not followed the spirit of the agreement and have attempted to pre-empt its natural or agreed course. You are quite correct to state that it would be ludicrous for SUF to attempt to force De Beers hand, but if one should take into account their past abilities to screw things up, then I must admit that I would not be surprised if they have inadvertently done so. Im not sure if they are over zealous or just new to the game; either way their school fees could be expensive. How could Camafuca be more important than the M1, considering that the chances on any diamonds being mined, in any reasonable quantity is pretty slim, unless of course its mined under a different name, such as UNITA. The M1 is in my opinion is vital for SUF and their only lifeline, as the pickings in the last few weeks on the rest of the Klipspringer project will pale in comparison with what the M1 can produce. Do you have any figures as to what the rest of the Klipspringer produced in the last few weeks, or what their rate of production was? Have they stockpiled anything? My question was whether De Beers have agreed to SUF's prospecting results, as there was no hesitation in SUF informing the public at large, the outlines of their proposed mining operations without the consent of their JV partners. This is generally not the way things are done, at least in SA. Perhaps you guys are not quite up to scratch in following the letter of an agreement, and I am quite sure that SUF,s joint partners could bring you up to speed. Perhaps the proposed exchange of technology could include a simple course in business etiquette. Nothing to difficult of course. I do hope that you have an enjoyable long weekend, considering the amount of time you are spending on this thread, you deserve the rest. Regards INFOMAN..

To: Confluence who wrote (1877)	8/3/1998 2:18:00 PM
From: PHILLIP FLOTOW	Respond to of 7235

Confluence and all, Cheryl Strauss Einhorn, the commodities editor of Barrons, appeared on CNBC this morning. She confirmed what I had speculated, that DeBeers had been withholding supplies to support diamond prices. Then she said that DeBeers had signed a deal with Russia that might signal a change in that policy. I have not been able to track down what she was referring to. Diamonds were not mentioned in her most recent column, so I am assuming that this is a new development. Here is another article of interest: Making a killing in the business world July 31, 1998 by Ferial Haffajee and Stuart Hess Johannesburg - You can teach an old dog new tricks, as a legion of former apartheid spies, torturers and key dirty-tricks operatives are showing. Many are the frontmen of business's push into Africa and are leaders in the private security industry, which is worth billions of rands. A former general, for example, heads a vehicle tracking company while another makes millions by planning security for blue chip companies. "We specialise in dealing in unstable situations," says former spy mastermind Craig Williamson. With a new suave image complete with pinstripes and a cell phone, he is at the cutting edge of exports to Angola. He started off shipping potatoes, other fresh produce and beer to the Southern African state, believing it was a place where South African business could grow. His business has been so lucrative, he has now moved up a rung to arrange financing. In the new field he can also use old expertise, tapping old networks to secure funding for companies which want to get into the export business. "I tell people that I can organise things. The banks won't touch Angola," he says, adding prospects of an outbreak of war in that country doesn't faze him because it's where he operates best. Executive Outcomes, the mercenary outfit which made a packet as hired guns in Angola and Sierra Leone, has reportedly diversified. It has started subsidiary companies which have moved from guarding mines to active mining. They are employed at dollar hourly rates as consultants for governments and companies which want to trade in Africa. They advise, introduce and facilitate. "If companies want to invest in Africa, we advise them and introduce them to people. Africa's my market," says Lafras Luitingh, a co-founder of Executive Outcomes and former Civil Co-operation Bureau (CCB) operative. Police jobs in outfits like the CCB, the security branch and the vice squad were saved in the past for the best officers and were coveted because they presented opportunities to make a quick buck on the side. These came from backhanders, pay-offs, diamond or drug deals, car theft and sometimes ivory smuggling. The spoils of office and lavish golden handshakes have been used by many to start legitimate businesses. Many former front companies continue to operate under different names. That's not how former detective Koos van Rooyen started his Durban- based company, Wolf Security. "I took home just over a thousand a month in the force," says the security honcho who counts blue chip companies like Toyota, South African Breweries and Nedcor among his clients. Van Rooyen was the officer who bagged Robert McBride in a manhunt in the Eighties. The wounded McBride had escaped from police cells and ran into the bushes. Van Rooyen was sent in to flush out McBride because he knew the young guerrilla from Wentworth while he served there as police station commander. Many ex-policemen have privatised their experience. A study of leading security companies shows they are staffed and owned in the main by former policemen. Charlie Landman, the notorious former head of the Brixton murder and robbery unit, is the head of investigations at one of the largest security companies, Khulani Springbok Patrols. Roy Allen, a former leading light in the Directorate of Covert Collection, is responsible for guarding Johannesburg International airport for Fidelity Guards. The cheekiest company must be that of former CCB operative Abraham "Slang" van Zyl. He is managing director of Tactical Risk Control - also known as TRC - a security company based in Gauteng. The company was first named Incom Investigations. With a staff of 230, Van Zyl provides sercurity at high-risk industrial sites and delivery vehicles. He has carried out investigations in London and Greece as well. "We are very well respected for the quality of our work," said Van Zyl, who also provides protection to South African VIPs. In the Eighties, a number of seedy Hillbrow hotels were known front operations for the likes of Van Zyl and fellow CCB operative Ferdi Barnard. Today others - like former military general and wunderkind Chris Thirion - run restaurants. Die Werf in Pretoria has been featured in many magazines because it apparently serves a fine bredie, while a consortium of former dirty- tricks operatives are said to own an oddly named Yeoville watering hole called The Englishman. Quay 4 is one of the best-known eating establishments at the Victoria and Alfred Waterfront in Cape Town. Popular among locals and tourists, it offers both an . la carte restaurant and a tavern for those with lower budgets. The bar is owned by former security policeman Louis van Niekerk, who also has a stake in other taverns like the popular Cantina Tequila franchises at the Woodbridge Restaurant in Milnerton. Additional reporting by Alet van Rensburg PHIL