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Gold/Mining/Energy : Steppe Gold (SPE:V)
SPE 14.90+0.4%Jan 8 4:00 PM EST

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To: keith massey who wrote (9)3/18/1997 1:32:00 PM
From: Agostino Teoli   of 1248
 
Keith,

Work on their Kazakstan properties should begin soon but they're probably going to step up their program into full gear after moving their headoffice to Vancouver. With the lack of news from the properties, lack of promotion and the political situation in Kazak, the shares will be depressed for awhile or even head lower. As for the number of shares o/s, they have aprox. 25ml and just over 31ml fully diluted.

TINO
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