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Gold/Mining/Energy : kazakstan goldfields symbol kgfc

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To: Douglas M. Benedict who wrote (194)	7/6/1997 11:15:00 AM
From: RRG	of 367

I spoke with Charles Pitcher last week. No bombshells. He confirmed that the 1,500 tones of concentrate are headed for the smelter. I asked him how much gold could come out of the concentrate, and he gave me a formula (1,500 tons times 50 divided by 30). If this is yield in ounces, it would result in 2,500 ounces of gold. Does this sound correct? The company is scrambling for additional funding. He said CGZ has been selling KGFC to raise money. (At 19cents US per share?) He said although the Kazakstand govt is stable, there is lots of graft and corruption (so what's new?). He was on his way to Californis to talk to some money people.

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