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Gold/Mining/Energy : Steppe Gold (SPE:V)
SPE 15.20-0.7%Oct 31 5:00 PM EST
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To: brian krause who wrote (1233)7/23/1999 8:14:00 AM
From: John Menzies  Read Replies (2) of 1248
 
Brian,

Paying the listing and trust company fees- completing the audit - legal fees etc would have amounted to a couple of hundred thousand plus the cost of the BC court action etc - management had funded the company exclusively for a couple of years and we were not going to fund it any longer simple as that - it was apparent that we were a small group of true believers with diminishing support in the market for our product. As you said - ON THE WRONG THREAD - we proved up a resource. In fact we had some incredible assets - I am very very pleased with what we achieved - very very pleased - the end game was not pleasant. Reality is that you can not go against a market forever when you are a public company. It is worth remembering that when I became involved in this country - it was on the cusp - huge inflows of foreign capital and it was held up as the next Chile in terms of development of the mining industry - it proved not to be - but in time it will.

PS there is a reason that I have always used my name rather than some alias like "tnago" or "capmi" - I am always willing to stand by what I say and take responsibility for the outcomes of my actions. The end game for Steppe Gold was painful - considering the enormous effort which had gone into it - and you can not really imagine the degree of effort - we just kept at it for a long time with focus and commitment -which had always won out for me in the past.

What is hot out there Brian at the moment in the Canadian markets?

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