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

To: .Trev who wrote (2342)	1/8/1999 9:16:00 AM
From: Confluence	Read Replies (1) \| Respond to of 7235

Hello All, QIT-Fer et Titane is a wholly owned subsidiary of Rio Tinto Zinc plc. Apparently this was just a shuffling of assets under the RTZ umbrella, probably to take advantage of various exploration write-offs against some positive earnings. No real change of ownership seems to have occurred, although the full text of the Kennecott release states that QIT has no intention of acquiring/disposing of any SUF securities at present, but may acquire/sell some or all of its securities in the future. This probably would allow for the possible disposition at some future point. This is just my opinion, but I'd sure like to see the whole bunch of shares bundled up into a secondary offering and parceled out to increase liquidity. Or, maybe SUF could use some of its ample cash to buy the block and retire almost 17% of its shares, generating a nice return for its shareholders and demonstrating the huge intrinsic value in each share. Its also nice to see them clean up the books for fiscal 98 and remove marginal production areas from the horizon. Although the net earnings will be lower because of this and other likely exploration writedowns, the cash flow is still huge and will get better for 1999. Time to concentrate on increasing the reserves and production at Marsfontein and Klipspringer and finding that big elephant under Munn Lake. Regards Confluence