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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: Walt who wrote (14976)	2/19/1999 12:00:00 PM
From: Gord Bolton	Read Replies (1) \| Respond to of 26850

From SUF News Releases TORONTO, Aug. 21 /CNW/ - SouthernEra Resources Limited (SUF-T) is pleased to announce that it has placed an order with Dowding Reynard & Associates for a 100 tonne per hour Dense Media Separation (DMS) plant for the Company's Klipspringer Project in South Africa. This plant will be commissioned in the first quarter of 1998 and it will be capable of treating up to 2000 tonnes per day. The installation will be located centrally on the Company's Modderfontein/Rusland farm. For the foreseeable future, the plant will have the capacity to treat all bulk sample and production tonnage from the Marsfontein pipes, Leopard fissure, Sugarbird kimberlites and other kimberlite sources in the larger prospect area. It is modular in design, and capacity can be expanded as required. The plant will incorporate the most modern proven diamond recovery technologies, including a recrush circuit, X-ray recovery system, sorthouse and security features. Initial treatment rate will depend on availability of feed material from the various kimberlite bodies in the Klipspringer area. The plant throughput will be built up to capacity as quickly as possible in order to maximize cash flow from the project. Other engineering activities at Klipspringer are progressing satisfactorily. These include: - Power line and transformer design for mine and treatment plant power. - Confirmation of an adequate local water supply. - Construction of an all-weather road from the main paved road to the Leopard adit. - Recruitment of senior personnel with relevant diamond operating experience. - Permitting of additional farms. - Establishment of additional security features. - Continued adit development of the Leopard fissure which has now advanced over 200 metres. Expenditures on completing the plant at Klipspringer and the continuing exploration program there were reported to total $7.5 million, net of $1.5 million in diamonds recovered during the quarter, with an additional $3.7 million expended on the exploration projects in Angola and the Northwest Territories, Canada. Working capital was reported to be $7 million. If any one has the exact numbers of total plant construction costs for the SUF plant please post. I had heard around $10,000,000.00. Winspear would need a power plant of some kind. Any Natural Gas in the area?

To: Walt who wrote (14976)	2/19/1999 12:18:00 PM
From: russet	Respond to of 26850

Hi Walt: Funny that MRDI Canada (who played some small parts in planning the Ekati and Diavik mines) think Winspear can build a mine and processing plant for $Can 61.0 million. But we forget that the omnipotent one (or is that impotent, I always confuse the two) knows all, has single handedly found 100 kimberlite pipes, 200 gold mines, explored the whole world, built hundreds of mines, read every book and paper on mining, leaped tall buildings with single bounds, blah,blah,blah (or was that mineman?,...or Eric Charters?,...or all three?....funny they all seem to have done the same things). Whatever drugs they are on, I wish they would share them with the rest of us so we can all hallucinate such greatness. russett