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Gold/Mining/Energy : International Panorama

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To: John Antoniou who wrote ()	5/29/1997 11:31:00 AM
From: Phil Cressman	of 264

John Just read news releases from Zaire dated May 26th which state that mine development agreements with previous government will be honoured but will require ratification and some renegotiations. This may be what is holding down our share value but keep in mind that the capital must be raised to build the mine facilities and unless the Government approves IPL's agreement at an early date the negotiations to obtain funding will be held up. Pressure is on the Government to move rapidly and assure foreign investment. I suspect that IPL's project has a very high priority since the feasibility study is already in hand.

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