Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Donald McRobb who wrote (3466)	5/22/1999 9:09:00 AM
From: gemsearcher	Read Replies (1) \| Respond to of 7235

Hello All. Talk about contrarian investing - SUF plummets on platinum deal worth $4/share , solid CFPS/EPS etc , only to rocket on news of parachutes , restructured options etc. :-). I won't belabour the very legitimate concerns already expressed by many on the thread (most recently by Gord) relating to IR and the info circular disclosure. I would clarify a couple of points - the PP authorization sought is 13 (not 19 ) million ; this is not unusual - we authorized 12 million last year - it just means that should the opportunity arise during the year the Board can act quickly without having to call a special shareholders meeting. As well , re the observation that 5 of the 8 board members owning 1000 shares or less , in fairness 3 of those are new nominees ; that having been said , I would obviously hope/expect that each board member would maintain a healthy investment in the co. I would also hope that an independent committee be struck to assess individual board member performance at least annually; i.e. I'd like to instill some sense of accountability throughout the co. , starting at the top. On a brighter note , the developing buy side that emerged this week is a signal to my mind that , as I think Andrew noted , the market has been given a reason to buy into what is clearly by any measure an oversold/undervalued stock. I think that reason may well be Camafuca and Marsfontein progress. I agree we will know soon - i.e. definitely before the AGM. The bottom line why I have stayed with this stock as long as I have , through all the missteps and outright IR blunders , is that these guys are among the best , if not the best , diamond hunters in the world. You can always hire a PR firm , they are a dime a dozen. The exploration talent is not as easy to replace. This company will definitely get there - I've occasionally thought sometimes in spite of itself - and I'm going to be there when it does. Regards and a good weekend. gemsearcher