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Gold/Mining/Energy : kazakstan goldfields symbol kgfc

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To: Jesse who wrote (221)8/7/1997 6:33:00 PM
From: Jesse   of 367
 
Looks like we're not alone, when it comes to Kaz. gov't:
- - - - - - - - -
World Wide Minerals Ltd -

Post/Reuters say Kazakhs give the kaybosh
World Wide Minerals Ltd
WWS
Shares issued 53200000
1997-08-06 close $0.6
Thursday Aug 7 1997
The Financial Post reports in a Reuters dispatch in its Thursday edition that
Kazakhstan has cancelled a deal with Toronto junior World Wide Minerals to
manage the TGK uranium operation, but World Wide has threatened to appeal to
international arbitration to have the contract reinstated. The government saw no
prospects for further cooperation with World Wide, according to Birzhan
Madiyev, a department head at the finance ministry's state property department.
In October last year the ex-Soviet state and World Wide signed a deal for
management of the state-run Tselinny uranium company in northern Kazakhstan.
The agreement was the latest in a series of deals involving Canadian firms eager to
tap into Kazakhstan's mineral potential. Some of these ventures, however, are
running into uncertainty caused by red tape and slow moving reforms within the
Kazakh government. Mr Madiyev says that World Wide has not made its
payments for the last few months.

(c) Copyright 1997 Canjex Publishing Ltd.
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