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

To: Confluence who wrote (2668)	3/31/1999 12:17:00 PM
From: VAUGHN	Read Replies (1) \| Respond to of 7235

Hello Confluence Well never let it be said that CJ can't put out a good release. Just did a quick spreadsheet analysis on the anticipated remaining mine life of the M-1 per the NR. I don't seem to be able to import it into this post without losing all the formatting, so the simple result I get is approximately $2.57 per share CDN of total net profit to termination in 2002 or $.74 per share profit for the next three years and roughly $.37 in 2002. Assuming a share value of 20 x earnings, the M-1 should support a share price of $14.80 for the next three years. This assumes an average per carat value of $157.62 US is maintained, $10/tonne mining/processing cost, 15% DeBeers marketing cost and 25% tax rate, and an exchange rate of 1.44 CDN. Am I off the mark here? Regards