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

To: Confluence who wrote (2214)	11/23/1998 8:59:00 PM
From: Goalie	Read Replies (2) \| Respond to of 7235

Hello Confluence: Your 2 cents worth is worth a buck or two in my estimation! Couldn't agree with you more. What's the rush? No need when more important issues are at hand... such as ensuring the full value of M1 is realized; Klipspringer, etc production values are in place when M1 runs out in 2 1/2 years, or so; Camafuca and other Angolan gems; plus other NWT stuff going on. BTW, I don't think CJ and team are in a rush either. They know where its at!!! Cheers.Goalie.

To: Confluence who wrote (2214)	11/24/1998 12:16:00 AM
From: BozkurtD	Read Replies (1) \| Respond to of 7235

Hello Confluence, I agree with you. It is very premature to jump into any decisions. Other than the financial situation of Lytton - New Indigo partnership, the feasibility study and environmental impact study will be important factors in the final decision. According to a recent ABZ press release, it will take another 6 months to finish the environmental impact study for their project. If approved, that should clear the way for the new projects, such as Jericho. As it stands, my understanding is that Jericho project is not cost efficient. If you take into account the development time of a NWT project before they get anything out of it, (around 6 years), even if it looks attractive, I don't think that SUF is ready for a NWT project. (I don't see any harm if they get it for a bargain basement price for future development) I think that they should concentrate on their Klipspringer project. More than likely there are other M1's out there. More time and resources they spend there, the quicker they will find it. Currently they have an excellent cash flow. They don't have to be in a rush to spend it. I strongly believe that there will be a serious cash crunch towards the end of 1999 because of Year 2000 problem. (Eventhough, I think that the computer-consultants are creating a big and unfounded hype about it, it still is a serious problem). Some third world countries don't even know where to start to tackle this problem. One country (I think that was Nigeria), will finish their readiness-study in April of 2000 (Do not under estimate the 3rd world countries. The U.S. economy is heavily dependent on them). Even the GPS satellites will be effected. According to FP, none of the Japanese banks are year 2000 ready. They were too busy with trying to survive. If these are true, one can imagine what kind of an impact that will create on the world economy and the stock markets. At that time if SUF has substantial amount of money in the bank, they will be in a very good position to get what they want (Maybe even more). I think SUF should concentrate on pushing the stock price higher than where it is right now. Higher the stock price, more leverage they will have in their future negotiations. Also that may help them to retain their TSE300 position. I don't think that they are handling this issue seriously enough. I believe that the stock is heavily under-valued. Based on their most recent press release, I think that they will bring in more than 80 cents per share this last quarter alone. Then we should see some activity. Regards Bozkurt