Share Name Share Symbol Market Type Share ISIN Share Description
Sirius R E. LSE:SRE London Ordinary Share GG00B1W3VF54 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.25p -0.38% 64.75p 64.00p 65.00p 65.00p 64.50p 65.00p 1,003,162 16:35:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 58.5 65.0 6.9 9.0 600.06

Sirius R E. Share Discussion Threads

Showing 26 to 49 of 225 messages
Chat Pages: 9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
27/11/2005
03:19
hear the ceo talk... http://www.wallstreetreporter.com/linked/SouthernEraDiamondsInc.html 10 nov presentation... http://www.southernera.com/investors/presentations.html few other snippets... http://www.southernera.com/investors/media.html
rambutan2
25/10/2005
02:24
Well Done Rambutan. BOL Cheers Ash:)
mr ashley james
25/10/2005
01:49
at last! TORONTO and LONDON, Oct. 24 /CNW/ - SouthernEra Diamonds Inc. (TSX: SDM; AIM: SRE): announced today that commencement of the construction of the Camafuca Diamond Project in Angola has taken a crucial step forward. This follows meetings with SouthernEra's partners of the Camafuca operating company, Camafuca Sociedade Mineira, Lda ("CSM"), in August and October this year. The mining licence for the Camafuca project has been issued following the joint Government approval and ratification for the formation of CSM, and the Angolan Council of Ministers' approval of the project. These approvals guarantee that no further consent from the Angolan authorities will be required. The board of directors (and executive management) of CSM has been constituted at a General Assembly of CSM and shall consist of the Managing Director (to be appointed by Endiama, the State owned diamond company, together with Minex, the financial partner), a Mining Director (appointed by SouthernEra), a Financial Director (appointed by Minex) and a Human Resources Director (appointed by the fourth partner in the project, Comica). All appointments to the board have occurred, with the exception of the Managing Director appointment, which is to be announced shortly. The first meeting of the board is expected to be held within the next few weeks, pending the appointment of the Managing Director, and it will consider the budgets, for approval, so that orders can be placed for the project to commence. Minex will provide the funding for Phase 1 of the project. The shareholding in CSM is as follows: Minex 38% Endiama 37% SouthernEra 18% Comica 7% SouthernEra Diamonds is one of Canada's largest fully integrated diamond companies with extensive diamond exploration in six countries including Canada, Gabon, the DRC, Zimbabwe and South Africa. The Company maintains an 18 percent free-carried interest in the Camafuca Diamond Project in Angola and also operates the Klipspringer Diamond Mine in South Africa.
rambutan2
20/10/2005
09:06
uk spread/offer is a disgrace. why bother to be listed if effectively untradeable! canadians cynical when it comes to sdm. i think plenty who fixed on the past and glad to get out. will take a while for management to persuade long-term holders that they going to create value. imho.
rambutan2
20/10/2005
08:47
hmmm.........certainly brought them to life in ca! but 298k sells and 191k buys; vol = 555k avg vol = 87k; closed 44/45c high 53c; in uk 20/26p nms=1000; £1=2.08c$; someone bought 3250 @26p first thing; ami getting interested? possibly but not in uk!
schober
19/10/2005
23:02
wakey WAKEY!!!!!!! when i mentioned elephants yesterday, i wasn't thinking of this type of elephant... TORONTO and LONDON, UK, Oct. 19 /CNW/ - SouthernEra Diamonds Inc. (TSX: SDM; AIM: SRE) announced today that BHP Billiton has agreed to complete a private placement with SouthernEra, at a premium to the prevailing market price. Part of the funds will be directed towards exploration, evaluation and potentially the development of SouthernEra's diamond properties in the Democratic Republic of the Congo (DRC). BHP Billiton will purchase approximately 15,636,000 shares of SouthernEra at C$0.60 (29p) for gross proceeds of US$8,000,000, becoming SouthernEra's largest shareholder with an approximate 12% holding. The placement is subject to regulatory and stock exchange approval. http://www.companyannouncements.net/cgi-bin/articles/20051019154404PD05A.html
rambutan2
18/10/2005
16:19
the latest elephant hunting news out... http://www.companyannouncements.net/cgi-bin/articles/20051018170817P6B44.html and a bit of recent background stuff etc... 2005-10-06 15:02 ET - Street Wire by Will Purcell SouthernEra Diamonds Inc. has a promising parcel of diamonds from one of its projects in the Democratic Republic of the Congo. The company has rosy expectations for its hunt for kimberlite pipes in the central African country, but the diamond haul comes from an alluvial source. SouthernEra continues to shop its kimberlite hunt to some well-heeled potential partners, but three promotable samples from a riverbed give the company's alluvial play a big boost. The company now hopes to outline a worthwhile resource of alluvial gravels in the area in the coming months. The alluvial play SouthernEra's alluvial diamonds come from the Tshikapa region, in the southwestern corner of the country. That places the play about 750 kilometres east-southeast of the capital city of Kinshasa and about 350 kilometres west-southwest of the diamond centre of Mbuji-Mayi. Most of the company's permits are farther to the east, in the heart of the Kasai alluvial diamond district. SouthernEra's diamond samples come from the western fringes of that region, but there seems little doubt the area is prospective for gems. The company recovered 61.5 carats from three alluvial gravel samples that weighed just 6.45 tonnes. That works out to a grade of nearly 10 carats per tonne. The parcel contained 410 stones, which points to an average of 0.03 carat per stone. The haul is particularly impressive, as the company processed just the material smaller than four millimetres. Work on the larger size fractions is still progressing, and that could add to the parcel in a big way, with healthy contributions from larger diamonds. That could potentially boost the average diamond size and the weight of the parcel, if the remaining material delivers diamonds at comparable rates. The three samples weighed about 18.5 tonnes in all, which suggests that barely one-third of the material was smaller than the four-millimetre cut-off. SouthernEra's new president, Alasdair MacPhee, said that they had no idea what was in the larger fractions, although he was cautiously optimistic that the numbers would continue to impress. SouthernEra is high on its Congo plays, as the area remains rather unexplored. The area did see alluvial diamond production in the 1950s and 1960s on the higher terraces surrounding the riverbed where the company collected its latest samples. That work came to a sudden stop when Congo became independent and kicked out the international mining companies. The active river channels and the bordering alluvial flats remain intact as a result. SouthernEra got the jump on most of its rivals when Congo revamped its mining code a few years ago, reopening its doors to foreign explorers. Much of its effort is going to the kimberlite search, and SouthernEra is apparently chatting with De Beers, Rio Tinto PLC and BHP Billiton Diamonds Inc. about potential deals for that project. SouthernEra began poking around on its alluvial play earlier this year. The company is working in the active river channel, using a dredge platform and divers to collect its samples of river gravels. The company collected material from 21 sites so far, according to its Toronto-based vice-president of exploration, Howard Bird. The company pulled up about 154 tonnes of gravels from the various sites. Mr. Bird said some of the first tests produced just barren sands, while others ran into bedrock without encountering gravel. The company is now getting its promotable recoveries from a better area, and that will help SouthernEra refine its hunt. That variability is typical of alluvial gravels, which Mr. MacPhee described as notoriously difficult to evaluate. The gravel layers may average a few metres thick, but most of the diamonds lie within a 30-centimetre zone near the bottom, just above the bedrock. As well, there could be zones without any gravels, and other sites with thick gravel zones. SouthernEra's play covers about 34 kilometres of river frontage, and the riverbed and the surrounding alluvial flats might typically be a few hundred metres wide. That might tempt speculators armed with a calculator to tackle a crude resource calculation. That would result in a rosy number, but things are not that simple with alluvial plays. Mr. MacPhee said it would be lovely if the whole plain had a linear grade matching its latest tests, but he added that was unlikely. The plan SouthernEra's Tshikapa project is still in the earliest stages, and the company will not have its first resource calculation until mid-2006. That assessment will cover just the active river channel, which is the current focus of SouthernEra's attention. The company will conduct its exploration, assessment and resource calculations in blocks, covering just a portion of its project to start. There are three areas of interest on the property, according to James Abson, SouthernEra's manager of African exploration. The active river channel is still the current priority, but the company will soon extend its testing to the flat alluvial plains along the river. Most of that work should come next year. As well, SouthernEra has hopes that diamonds will turn up in the higher terraces, which contain river gravels from an earlier age. As well as the sampling effort, the company plans to complete geophysics over the alluvial flats. That data will help assess the thickness of the gravel layer, as well as providing an outline of the bedrock topography. The information should show depressions or trap zones that could contain significant quantities of diamonds. SouthernEra will continue with its testing effort, which would logically progress to bulk sampling of the alluvial flats once the company finds some prospective areas. Seismic work and drilling will help SouthernEra zero in on some sites with higher grades along the alluvial plains. Larger samples should provide substantial diamond parcels and SouthernEra will probably have its alluvial stones appraised. There has been no attempt at assessing the diamond value to date, but the company seems pleased with what it found so far. Diamonds from other areas in Congo do not fetch a high price, averaging about $20 (U.S.) per carat. Things are better in the area surrounding SouthernEra's play however, where the average runs about $70 (U.S.) per carat. If the company's Tshikapa alluvial diamonds can match that mark, the play would get a good boost. The average grade is the other important ingredient in the value equation. Mr. Bird said it was too early to speculate, although he seemed willing to take a crack at a hint, postulating that the grades would be "quite good." Mr. MacPhee also stressed the preliminary state of its program, but he expressed "cautious optimism" that areas with promising grades would continue to turn up. The players Mr. MacPhee now has some hope of tenure in his role as president and chief executive officer of SouthernEra. He replaced Patrick Evans in the top job on an interim basis in mid-July, and the company made the appointment permanent in mid-September. Mr. Evans lasted over four years as the company's top dog, much longer than his predecessor, Steven Banning, who lasted a mere four months. The Scottish Mr. MacPhee followed degrees in mechanical engineering and business administration by a move to South Africa and a job with De Beers in 1981. He worked with the diamond giant for nearly 17 years, concentrating on operations and mine development, rather than the exploration side of things. In 1997, Mr. MacPhee moved over to SouthernEra to help the company with its Marsfontein project. Its M1 pipe produced some promotable diamond grades through 1997, prodding the company's shares to a peak of $20.80 that fall. Mr. MacPhee's former employer had a nasty surprise for his new company early in 1998, when it signed a deal with the heirs of the original owners of the Marsfontein farm. That triggered a series of spats and negotiations that ended with De Beers wresting a 60-per-cent share of the small but profitable pipe. Mr. MacPhee stayed with SouthernEra, but he moved over to platinum when the company bought a majority stake in the Messina platinum deposit. The company eventually got the play into production. Last year, it spun the project off into a new company, Southern Platinum Corp., which Lonmin Investments Canada Inc. took over earlier this year. Mr. MacPhee returned to diamonds by then, staying with SouthernEra. Already a SouthernEra vice-president, he moved a bit farther up the management chain late in 2003, when he added the corporate development role to his expanding job description. A year later, Mr. MacPhee became vice-president in charge of all things African for the company. The Johannesburg-based Mr. MacPhee remains firmly rooted in South Africa, a long haul from the company's head office in Toronto. Despite the lengthy commute, he has no plans to move either himself or his head office. That may well be wise, as a plan to move SouthernEra's home base to Colorado proved to be Mr. Banning's undoing in the spring of 2000. Mr. MacPhee's plan to maintain two offices does seem logical. The TSX-listed company still has several active exploration projects on the go in Canada, but its main effort is again going to plays in Africa. The company has projects in Gabon, Zimbabwe, Angola and South Africa, and its Congo gem hunts now rank at the top of the list. Continued alluvial promise and a deal with a diamond major on the kimberlite hunt seem the company's best bet to give Mr. MacPhee some promotable news. SouthernEra added one-half cent to 38 cents Wednesday, on 32,000 shares.
rambutan2
26/8/2005
01:32
SouthernEra Diamonds Closes Private Placement Through Haywood Securities Shares Issued and Outstanding: 112,279,101 TSX: SDM AIM: SRE TORONTO, ON and LONDON, UK, Aug. 25 /CNW/ - SouthernEra Diamonds Inc. (the "Company") (TSX: SDM, AIM: SRE) announced today that it has closed the previously announced private placement led by Haywood Securities Inc. for the sale of 8,782,500 Flow-through Common Shares and 1,430,000 Units for gross proceeds of approx. C$4.1 million. The Flow-through Common Shares were sold at C$0.40 per Flow-through Common Share for gross proceeds of approx. C$3.5 million. The Units were sold at C$0.40 per Unit for gross proceeds of approx. C$0.6 million. Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable to acquire one common share at an exercise price of C$0.65 for a period of 24 months from today. The proceeds of the Flow-through private placement will be used to support the Company's Canadian exploration program and the Units proceeds will be used to support the Company's global exploration program and for general corporate purposes.
rambutan2
17/8/2005
19:18
from camfuca update 8aug http://www.companyannouncements.net/cgi-bin/articles/20050809070100P9495.html * ....feasibility study completed in 2000 SouthernEra defined an inferred mineral resource from surface to a depth of 145 meters of 209.5 million cubic meters at an average grade of 0.111 carats per cubic meter, for a total resource of 23.25 million carats. An independent valuation in 2000 attributed an average value to the Camafuca diamonds of $109 per carat. Since then, global rough diamond prices have increased by more than 35 percent. The Company holds an 18% free-carried interest in the project. *Angola's civil war ended in 2002 and many of the cost parameters of the feasibility study will consequently have changed materially. The 2000 feasibility study is the most recent report on the property and will now be updated to reflect current operating conditions.
schober
09/8/2005
08:02
piece from last week... 2005-08-04 16:02 ET - Street Wire by Will Purcell SouthernEra Diamonds Inc. is again a grassroots diamond hunter in Canada's North, but several African gem projects remain the company's best shot at producing quick cash flow. A focus on those projects seems likely, as the company's interim president, Alasdair MacPhee, spent most of his career hunting African diamonds. One of its grassroots hunts now has the attention of some potential partners, while SouthernEra hopes to profit from two advanced projects over the next year or two. The Congo hunt Late last year, SouthernEra flew a large geophysical survey over about half of its permits, covering what it now calls its Kito, Nyota and Akiki blocks. The three groups of permits produced 34 priority targets that are up to 750 metres in diameter. As well, several of the targets on the Kito block lie encouragingly close to sites with proven alluvial reserves. That has SouthernEra's founder, Dr. Chris Jennings, willing to list his company's Congo play as its top African gem project. He said that SouthernEra had three diamond majors knocking hard on its door, looking to do a joint venture deal with the far smaller company. With De Beers, Rio Tinto Plc. and BHP Billiton Diamonds Inc. all looking for a piece of SouthernEra's Congo play, a deal may not be far off. Dr. Jennings said any arrangement would "have the guys taking us right through feasibility." As well, SouthernEra expects any partner would spend at least $5-million (U.S.) per year on the project, "to prove up what could be some really big kimberlites." Any arrangement with a major would presumably leave SouthernEra with just a minority stake in the play, but without a large drain on its limited treasury. That would be good news for the company's long-term shareholders, who saw their company throw large sums of cash at some other African plays, with little return so far. Camafuca SouthernEra thinks it can turn a tidy profit out of the mammoth pipe, which contains over 400 million tonnes of kimberlite. The grade is modest, at 0.05 carat per tonne, but the diamond value is well above $110 (U.S.) per carat. That adds up to about 23 million carats and a gross value approaching $3-billion (U.S.) at current prices. SouthernEra's four-year-old feasibility study called for a first phase that would see a dredging operation scoop up about 6.13 million cubic metres of kimberlite over a five-year stretch. That would deliver about 220,000 carats yearly, worth about $26-million (U.S.). The company pegged capital costs at $16-million (U.S.) and operating costs at just $12-million (U.S.) per year. Those numbers suggested a quick payback and a hefty rate of return. Since then it has been a case of hurry up and wait at Camafuca. Dr. Jennings said SouthernEra was hoping to get the final approval on Camafuca, which would give the company cash flow within a year. The project has been sitting for more than three years, with SouthernEra insisting it would not commit any more cash. "We have spent enough; we will take the 18-per-cent interest," said Dr. Jennings. Finding a partner to foot the remaining bill remains a challenge, but the company is optimistic that Camafuca will soon get its chance to deliver on the earlier promise. Klipspringer Those hopes outran SouthernEra's own hype. By mid-2000, Dr. Jennings was still expecting a profit from Klipspringer, but he cautioned the mine would not be "any great hell." The company delivered a feasibility study based on production of about 400,000 tonnes of kimberlite per year. With a grade of 0.47 carat per tonne and a diamond value of $100 (U.S.) per carat, SouthernEra expected revenues of about $8-million (U.S.) yearly. With operating costs below $30 (U.S.) per tonne and the modest capital needs covered by De Beers, Klipspringer seemed poised to deliver a steady stream of cash to SouthernEra. With the rand finally starting a new slide, SouthernEra hopes to revive Klipspringer, although with a more modest plan. The company thinks that scaling back its mine to 200,000 tonnes per year will create some big savings and allow the company to make a profit at the current exchange rate. Dr. Jennings said Klipspringer could clear $2-million (U.S.) a year at seven rand to the U.S. dollar. If so, that would be good news for weary shareholders. View the whole article at site: http://www.stockwatch.com/swnet/newsit/newsit_newsit.aspx?bid=B-469873-C:SDM&symbol=SDM&news_region=C
rambutan2
09/8/2005
07:22
camafuca go ahead - at last!
rambutan2
01/7/2005
14:19
a yes for klips - they say going to take it out of mothballs but seeing is believing. re camafuca. from what ive been able to gather seems that endiama not able to afford its part of the deal, and generally just a horror to deal with. however, things starting to look up a bit in angola and sre might be able to help things out. would surely be worth it.
rambutan2
01/7/2005
12:39
am i right in thinking that sre have 56% of klips? anyone know what the problem is here? "No progress occurred during the year at the Company's Camafuca Project as final authorisation for the formation of the operating company, Camafuca Limited, is still awaited from the Angolan government."
schober
29/6/2005
23:50
and 50k and 20k today!
rambutan2
28/6/2005
21:42
someone must have read it and bought the 13k today.
rambutan2
28/6/2005
21:41
FT Africa: Diamonds supplement in today's FT. has an upbeat profile of sre.
rambutan2
23/6/2005
23:03
more joint ventures... http://www.uk-wire.com/cgi-bin/articles/20050623170815P663E.html
rambutan2
14/6/2005
15:01
sounds quite promising... SouthernEra Diamonds Inc. - DO-27 Joint Venture in Canada's NWT Returns Encouraging Advanced Exploration Results - 2005 Bulk Sample of DO-27 grades an average of 0.98 carats/tonne - Large high grade central core identified - Core drilling extends depth of kimberlite to over 465 meters - Resource delineation core drilling program to commence in July http://www.uk-wire.com/cgi-bin/articles/20050614145139PE8CC.html
rambutan2
31/5/2005
09:59
from a canadian friend... Dryden Wealth Management came out on Friday 27 May and recommended SRE (SDM) as a buy (19pence)after being updated by management since a March equity raising. Refers to SRE as "Aim quoted minnow". States Klipspringer due to come back on stream if currencies remain upbeat, Camafuca dredging looks more likely and production from the alluvials in the Congo could soon be underway. Mentions the cash flow will be used to hunt for a major productive kimberlite discovery in the Congo. Considerable medium term potential. High risk. The analyst has a beneficial interest.
rambutan2
25/5/2005
09:48
from above, of partic note... The Camafuca mine lies in north-west Angola; SouthernEra has an 18% free carried interest with Angolan partners through the joint venture company Sociedade Mineira do Camafuca (SMC). The company is awaiting the Presidential signature on the mining licence. The wait has been a long one (since 2002), but the company has been told in mid-May that it should now only be a matter of days.
rambutan2
25/5/2005
09:42
ce bought a few more yesterday. this from mineweb... SouthernEra Diamonds Inc; South Africa, Angola and elsewhere SouthernEra Diamonds came into being last September when SouthernEra Resources reorganised and split its diamond and platinum operations. The company is listed on Toronto (ticker SDM) with a secondary listing on AIM (ticker SRE) and has a market capitalisation of £19 million. The company has a number of projects in a range of southern African countries as well as Australia and Canada; the primary targets for development are Klipspringer in South Africa and Camafuca in Angola, while the major target for exploration is the Democratic Republic of the Congo. SouthernEra management built the Klipspringer mine (South Africa) in conjunction with De Beers, and achieved a production rate of 30,000 tonnes per month in January 2003, but by the end of that year the strength of the rand forced the mine onto care-and-maintenance. SouthernEra is now looking to bring Klipspringer back in, working off a 2.2 million tonne resource grading 46.5 carats per hundred tonnes at a value of approximately $100 per carat. The Camafuca mine lies in north-west Angola; SouthernEra has an 18% free carried interest with Angolan partners through the joint venture company Sociedade Mineira do Camafuca (SMC). The company is awaiting the Presidential signature on the mining licence. The wait has been a long one (since 2002), but the company has been told in mid-May that it should now only be a matter of days. This will allow the company to proceed to the second stage. This involves the Camafuca-Camazamba pipe, which has so far shown a potential resource of 210 cubic metres at 0.11 carats per cubic metre, giving caratage content of 23.2 million and further development of the operation will depend largely on the success of this stage. In the Democratic Republic of the Congo (DRC), SouthernEra has been awarded 41 exploration licences (the maximum is 50 per company and they had applied for all fifty but were behind others in the queue for the nine that they missed). During 2004 SouthernEra flew a 43,000 km line survey over 21 areas in the Kasai provinces and the results have been very encouraging,; 34 high priority deposits have been identified. Elsewhere, on the Tshikapa alluvial diamond field, the diamonds are estimated to have a value of $80 – 85 per carat. While SouthernEra also has prospective projects in Gabon, Canada and Australia, the DRC remains its highest priority. The company notes that DRC has not been explored for fifty years, but nonetheless has historically produced more diamonds than any other country. http://www.mineweb.net/sections/gems/443237.htm
rambutan2
17/5/2005
14:38
1st quarters out today.
rambutan2
14/5/2005
18:01
2005-05-11 10:02 ET - News Release See News Release (C-CDR) Caldera Resources Inc Mr. Chris Reindler of Caldera reports CALDERA JOINT VENTURES TWO EXPLORATION LICENCES WITH WMC RESOURCES LTD IN COLLURABBIE REGION OF WESTERN AUSTRALIA Caldera Resources Inc., together with SouthernEra Diamonds Inc., have entered into a joint venture agreement with WMC Resources Ltd. on two exploration licences which cover an area of 156 square kilometres in the northeastern goldfields of Western Australia. These licences, which are known as the Yelma joint venture, are located 25 kilometres northwest and 50 kilometres north of WMC's Collurabbie project which WMC considers to have potential for a new nickel/platinum province. WMC is currently the subject of a takeover offer by BHP Billiton Limited. This WMC greenfields project covers more than 500 square kilometres of the northern extension of the Archaean Gerry Well greenstone belt. The first deep diamond drill holes in a WMC/Falcon Minerals Ltd. joint venture at the southern end of the Collurabbie project have intersected disseminated and massive sulphide mineralization in an ultramafic unit, containing 1.0 per cent to 3.67 per cent nickel, 0.13 per cent to 3.12 per cent copper and 1.12 grams per tonne to 7.78 g/t total platinum group metals (PGMs). These results which have been reported by Falcon Minerals Ltd., represent nine intersections from seven diamond drill holes, and two reverse circulation drill holes. They include a downhole length (downhole length; true width is approximately 75 per cent of the quoted downhole length) of 12.86 metres from 131.65 metres which assayed at 1.33 per cent nickel, 0.95 per cent copper and 2.55 grams per tonne total PGMs. These drilling results were reported by Falcon Minerals Ltd. to the Australian Stock Exchange on Aug. 17, 2004, Nov. 10, 2004, and Dec. 3, 2004. The Yelma JV partners consider the exploration licence which is located 15 kilometres west of WMC's Collurabbie tenements, and 25 kilometres northwest of the WMC/Falcon ground, to have potential to host ultramafic units and possible sulphide mineralization. The 400-metre line-spaced aeromagnetic data for this exploration licence area suggest that the potential zone of ultramafic lithologies has a strike length of up to 20 kilometres. Caldera and SouthernEra Diamonds applied for the two exploration licences based on regional airborne magnetic data which suggest that the ground covered by the exploration licences had potential for kimberlite pipes. A limited loam sampling program which was completed by Caldera and SouthernEra at the exploration licence located 25 kilometres northwest of WMC's Collurabbie project has produced chrome spinels. Scanning electron microprobe analysis of these chrome spinels at CSIRO in Perth suggests an ultrabasic source other than kimberlite. The loam samples were processed by Diatech and Western Geolab, both of Perth, Western Australia. A petrological examination of four rock samples collected during 2002 from the exploration licence 50 kilometres north of the WMC/Falcon ground, has identified them as being possible silicified and ferruginised ultrabasic cap rocks which may have been serpentinized ultrabasic rocks. The petrology was completed by Mintek Services of Sydney during 2002. Under the terms of the agreement, WMC will have a two-month evaluation period, after which it may withdraw or elect to earn a 75-per-cent interest in the licences by expenditure of $500,000 (Australian) over a three-year period. The interest held by Caldera and SouthernEra would then be deemed to be 12.25 per cent and 12.75 per cent respectively. Having earned a 75-per-cent interest, Caldera's equity, would be free carried in the project to the point of decision to commence mining operations. At the decision to commence mining operations, Caldera may elect to share costs of future development expenditure or convert the equity to a royalty of 0.5 per cent on all recoverable metals derived from the project. Caldera is very pleased to be associated with WMC in the greater Collurabbie project which is rapidly developing into a very exciting Cu-Ni-PGE discovery with considerable potential. Martin Jackson, a member of the AusIMM, is the qualified person responsible for the technical information in this news release. This agreement is subject to approval by the Toronto Stock Exchange.
rambutan2
14/5/2005
18:01
SouthernEra et al. plot a return to Back 2005-04-21 13:48 ET - Street Wire Also Street Wire (C-IAX) Island Arc Exploration Corp Also Street Wire (C-KLA) Kalahari Resources Inc by Will Purcell Hope springs eternal for SouthernEra Diamonds Inc. and its Back Lake partners, Kalahari Resources Inc. and Island Arc Exploration Corp. SouthernEra scooped up some new indicator minerals on the old play again this year. The grains offer added encouragement that two big mineral trains will lead to a diamond deposit that has eluded the three companies for a decade. The Back Lake hunt began in the mid-1990s, but kimberlite pipes have been rare in the area surrounding MacKay Lake and Back Lake. Nevertheless, there have been many indicator mineral anomalies identified in the district, most with promotable geochemistry. As a result, SouthernEra seems likely to try to continue the hunt for a kimberlite source for the two indicator swaths. The trains SouthernEra and its partners began tracking the North Margaret Lake and South One mineral anomalies in the late 1990s, and the three companies delineated the two trains by 2002. Each year the companies seemed on the verge of finding a kimberlite source for the features, but later drill programs were disappointing. Several rounds of till sampling show the North Margaret Lake swath to be about seven kilometres long and about 300 metres wide. Airborne geophysics covering the head region of the mineral train produced several potential kimberlite targets. After a round of ground geophysics, SouthernEra drilled a few features early in 2003. None of the anomalies offered a hint of kimberlite. The Back Lake partners renewed their effort that summer. SouthernEra collected more till samples, and several of the tests delivered new mineral grains. That seemed to narrow down the potential head of North Margaret further, and the partners tried again last year. Ground geophysics covered several more potential targets and that led to another drill program last summer. Once again, none of the tests encountered kimberlite. The story was similar with the South One train, which is about 1,500 metres to the south of the North Margaret Lake feature. SouthernEra tracked the 250-metre-wide swath for about four kilometres in the down-ice direction by the summer of 2002 and some intriguing geophysical anomalies were checked out the following spring and put to the test. The story was no better on the southern train, as no kimberlite turned up. More sampling and ground geophysics followed in the summer of 2003 and SouthernEra mounted a new drill program last year. The outcome was another now familiar disappointment. The balance of the article is on stockwatch at http://new.stockwatch.com/swnet/newsit/newsit_newsit.aspx?bid=B-440297-C:SDM&symbol=SDM&news_region=C
rambutan2
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