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

To: Andrew who wrote (2453)	2/15/1999 7:45:00 PM
From: Confluence	Read Replies (1) \| Respond to of 7235

Hello Vaughn, Goalie, Andrew et al, I don't put much stock in the LTL rumours because no one of importance in negotiating a deal from SUF's side is in Canada. CJ and LB are in RSA, HB does exploration, and KF is busy with Klipspringer and other stuff in RSA. Back in the fall, when this first came up, CJ said he was more than willing to wait a long time for any serious talks with the LTL/NDR guys. I believe that we are seeing some wishful thinking on the part of LTL/NDR, who are badly in need of cash and a sense of legitimacy. It may be that large shareholders in LTL/NDR in Europe also own some SUF and would like to see a consolidation of their holdings, under the SUF umbrella. I say no way SUF does any seriously dilutive deal until share prices move -- SUF's upward and LTL lower. (Although I do wish for good success in this year's program for LTL/NDR). I agree completely with Goalie that the market has lost focus of SUF's story and that SUF needs to rectify things quickly. Many possible avenues ... one glaring opportunity would be the consistent release of news. With the expectation of good earnings, isn't it shocking that the last comment SUF had on the financial front was about write-downs! With all due respect to the accountants, since when did accounting treatments become material facts, except when hand-in-hand with earnings or expectations of earnings? And even so, if Vaughn is correct that short term perception is all that matters, don't you think SUF's bean counters would recognize this? Its all nice to hold out for audited year-end numbers on March 17, but surely even those pencil pushers with noses buried RSA accounting books would have the realization that consistency of reporting is the least the market requires. Oct production in early Nov, Nov prod in early Dec, Dec prod in ________? Maybe the long SUFfering shareholders should begin to voice their opinions directly to SUF. Call them, email them, fax them. They have a great company, but seem intent on hiding it from view. Just wait 'til the big buyer at First Marathon gets identified (my assumption that one buyer has been accumulating). My gut says someone might take a run at SUF. Lets just hope that the share price reflects someone's interest someday soon. Regards, Confluence PS When I asked CJ about SUF buying back stock in the open market, he told me, in good fighting spirit, that buybacks only indicated that the company had no better utilization for cash -- this is the best damn diamond exploration company in the world!