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

To: .Trev who wrote (2364)	1/18/1999 10:41:00 AM
From: PHILLIP FLOTOW	Respond to of 7235

In this morning's news: Angola News Roundup January 10, 1999 LUANDA - 1. DE BEERS WARNED OF LOSS OF CONTRACT: The Angolan government recently warned of rescinding their contract with the world's leading diamonds trade multinational "De Beers" if investigations currently in progress confirmed any involvement of the firm in illegal business with Angola's UNITA rebels of Dr Jonas Savimbi. A senior official with the state owned "ENDIAMA" diamonds company said the government was seeking the authenticity of a report released last month by the British human rights organization "Global Witness (GW)" in which De Beers is accused of buying large quantities of diamonds from UNITA in violation to a UN Security Council sanction banning such transactions. GW says in the report that between 1992-1998 De Beers bought from UNITA rebels up to US$ 3.7 billion in diamonds in a business which has clearly helped Savimbi's efforts to organize a new war in Angola. Officials in Luanda believe that the business has involved even larger amounts of money. It is said that besides controlling most of the richest mining sites in the traditional northeast part of country, UNITA had also discovered new and huge diamond areas in the central and southern regions of the country, namely in the provinces of Bie and Kuando-Kubango. 2. MONUA TOLD TO PREPARE FOR DEPARTURE Clearly disappointed at an apparent UN incapacity to intervene for peace, Angolan government authorities have advised the United Nations Observer Mission (MONUA) to get ready to leave the country. A government spokesman announced on January 5 that an official letter had been sent to MONUA asking them to call all their personnel in different provinces back to Luanda and prepare for the departure. "We told MONUA to concentrate all their personnel in Luanda for security reasons. This will facilitate their repatriation since the current mandate of the mission is expiring on February 26", spokesman Higino Carneiro said. 3. UN WRESTLING BIG FOR ACCESS TO PLANE CRASH SITES With investigations into former UN mediator Alioune Beye's plane crash almost shelved, the United Nations is now struggling for help from Angolan warring parties to trace the remains and possible survivors of two UN chartered C-130 aircraft recently wrecked in the central highland Huambo province. UN under Secretary general for defence and Security affairs, Mr. Sevan Bennon arrived on January 4 for investigations into the wreckage widely believed to have occurred in UNITA controlled areas. The first crash occurred on December 26 shortly after the plane took off from Huambo towards Saurimo city, in eastern part, and the second took place on January 2 also on leaving Huambo. The UN is looking for a ceasefire to send an inquiry team to the two spots and work on accessing to eventual survivors. Stating that in both cases the wreckage occurred in battle areas controlled by UNITA forces, the government has promised to provide all information concerning the findings available on the case". But spokesman Higino Carneiro however told reporter because it is a military operations zone and there is combat there, a ceasefire "is unthinkable". For their part, UNITA's secretary general Mr. Paulo Lukamba "Gato" says that they have not been contacted by anyone from MONUA in connection with the issue. "He (MONUA chief Issa Diallo) has got all our necessary contacts including phone and fax numbers, but we have heard nothing", Gato said. Diallo, however, denied that had such addresses. During the central highland battles, another two Angolan Russian-made Antonov-12 aircraft were also allegedly shot down by UNITA in an incident which left no survivors. But total silence from all directions has been the single reaction so far. (The story goes on about other items.) A point I brought up a while back, that Angola's wealth is being used against it's own people, is also in today's news. PHIL

To: .Trev who wrote (2364)	1/18/1999 3:02:00 PM
From: VAUGHN	Read Replies (1) \| Respond to of 7235

Hello Trev Thanks. Seems to confirm what I have heard here which is that DB's ran into a bit of a last minute snag re: their DIAND road route approval. Word I got was that the Land Claimants expressed a concern about the route passing over a culturally sensitive lake area and requested an eleventh hour change. Road may not be in for awhile. I believe SUF already have a drill on site and can fly sonic drills in by Twins or drag them in behind a Pasepartu (sp?) without too much difficulty. However, the road really pays for its self when it comes to shipping fuel in cheaply. So while some drilling may well start in early February, don't expect heavy activity until late in the month. Sounds like SUF will also be down in Calgary in early February giving its Yamba Lake partners MIY/TQY/CAV an in-depth briefing on the results of the 98 resampling and soliciting agreement with regard to 99 exploration plans. I gather SUF spent in excess of the minimum required in 98 and will outline how they will spend their $750,000 this year. Sounds like they will refly the entire property possibly on a north/south rather than east/west grid and do it in a much tighter (higher resolution) geometry. Word is that Kennecott(?)has had interesting results going north/south. Presumably something to do with emplacement magnetics, but possibly might also be some new technique involving correlation of north/south with east/west data. Keep in mind that the property provided very indistinct mags and EM beyond those five bulls eyes spotted in the early days. I gather there may also be some discussion visa a vie how SUF will spend the remainder of their $10,000,000 commitment by 2002 assuming they choose to earn their full 51% share. So far it sounds as if SUF likes what they have seen. You never know this time of year because January and especially February can be unpredictable temperature wise, but we have been having increasingly moderate daily's here in YK which do not thrill me one bit. Only -10 or so the other morning and again today. Appears to be a continuously moderating weather pattern, which might be suggestive of another early spring. I would feel much more comfortable if HB would be on the next plane up here and get those drills turning. It can and probably will turn colder again, but the weather has been very different the last few years and I am not confident we won't see the ice candle early again in 99. Have a good one. Regards P.S. MIY said that their share float is 40,000,000 and have no plans for further issues or consolidation in the near futur as only one of their properties requires that they spend $$ on it. All others being farmed like Yamba.