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

To: gemsearcher who wrote (3372)	5/16/1999 12:04:00 PM
From: Gord Bolton	Read Replies (1) \| Respond to of 7235

--------------------------1998----------1998----------1999----------1999---------1999 ----------------------------3Q------------4Q-----------1QE------------1Q----------2QE tonnage through put-----60,298--------82,594--------52,243--------82,800------136,620 carats recovered-------207,551-------342,503-------173,631-------200,132------254,000 grade(cpht)----------------344-----------415-----------252-----------242----------186 Co. share 40%-----------93,652-------137,001--------69,452--------80,052------101,600 Revenue------------$20,652,000---$23,588,000---$12,223,552---$11,900,000--$13,716,000 net income---------$11,857,000-------$86,000----$4,300,000----$4,900,000---$8,000,000 My best guestimates, just for discusion. Actual results may be higher or lower than my Voodoo indicates. I am speculating that the gravel mixed in from M3 and stockpiles will average 1 cpt. Also of interest. Message 9550173

To: gemsearcher who wrote (3372)	5/16/1999 1:48:00 PM
From: DIAMOND JIM	Read Replies (1) \| Respond to of 7235

Hi gemsearcher..I find Sudhir's approach here would be valid if SUF were a purely speculative play like WSP or the like. With all respect,his comments do not seem to reflect SUF as the second largest PRODUCER in SA with increasing production throughout the coming year but focus on the early exploration projects. We will hear about the "intense anomalies" M10-12 soon. The indications on Camafuca are potentially explosive in terms of the resource base-I would be willing to bet that pipe goes into production before any of Aber's. I agree the "market" may have initially looked at the PGM development as a loss of focus, but the political brownie points earned in SA and the highly favourable terms and cash flow will change this perception. All said, the stock has been played lower like a bull fiddle this year and is way undervalued by all measures with the bad after taste of the M1 fight..but that is over and the JV is working. Can the 'market' justify prices much lower than 4.50? Only if it regards SUF as a pure spec company with negative P/E's for forseeable future. Regards DJ