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

To: Goalie who wrote (2394)	2/1/1999 4:39:00 PM
From: BozkurtD	Read Replies (1) \| Respond to of 7235

Hello Goalie, Here is an interesting G&B article: """ The Ontario Securities Commission yesterday issued a cease trade order in the shares of DiamondWorks Ltd. following an unusual runup in the Vancouver company's stock price. The OSC said in a brief statement that it imposed the order "pending clarification of the affairs of the company." Charlie Macfarlane, executive director of the OSC, said in an interview that the regulator's action was taken because of a "confidential disclosure" DiamondWorks made to the OSC. The 15-day OSC cease trade, which came late in the day, followed a temporary halt put on the shares at the outset of the day's trading by the Toronto Stock Exchange. Neither the OSC nor the company would say if the order is connected to rumoured positive developments related to a recent hostage taking at the company's Angola mine. Singapore financier Robert Friedland's owns 8.5 per cent of DiamondWorks, which has interests in two Angolan diamond mines, the largest of which is the Yetwene mine. It was raided last November by rebels, an attack that left eight miners dead and 10 unaccounted for. Sources said the missing miners are being held by rebel UNITA forces, which are opposed to foreign companies such as DiamondWorks and Toronto-based SouthernEra Resources Ltd. mining diamonds in Angola. At about 10 a.m. yesterday, the Toronto Stock Exchange halted trading in DiamondWorks. The halt came after the stock jumped 17 cents to 30 cents Thursday on unusually heavy volume of 626,800 shares. Trading records show half of the buying on Thursday involved Yorkton Securities Ltd. and Canaccord Capital Corp. Reached in Vancouver, DiamondWorks spokesman Bill Trenaman refused to say if there is any connection between the cease trading order and the situation at Yetwene. "All we can say is it's not bad news," Mr. Trenaman said. Lee Barker, vice-president of SouthernEra, said he had heard rumours that DiamondWorks might resume production at Yetwene before the end of the month. But Mr. Trenaman would only say that the property is being guarded by the company's security staff. """ Regards BozkurtD