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Gold/Mining/Energy : kazakstan goldfields symbol kgfc
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To: roger fontaine who wrote ()8/28/1997 5:33:00 PM
From: Jesse   of 367
 
More Commentary (The V.Sun):
---------------------------
Central Asia Goldfields Corp -

Van Sun says deal Kazakhed
Central Asia Goldfields Corp
CGZ
Shares issued 13678887
1997-08-27 close $0.28
Thursday Aug 28 1997
The Vancouver Sun reports in an unidentified news service dispatch in its
Thursday edition that in yet another miscue by the two countries, Kazakhstan has
dissolved a Kazakh-Canadian gold mining venture, accusing the company of
failing to boost production at some mines formerly run by the government. The
venture, Gold Pool, took control of the mines: Aksu, Bestube and Jolimbet, last
year from the government's mining company. It said it planned to invest up to $70
million in the central Asian mines as part of its agreement with the government to
boost production and buy control of the operations. On Wednesday, the
government said that Gold Pool had not fulfilled those pledges, and that gold
production had fallen during 1996 and the first half of this year, according to the
Interfax news agency. It said that back taxes and wages also remain an issue at
the mines. The government said that Gold Pool offered to settle the debts if it were
allowed a controlling interest in the three mines.
(c) Copyright 1997 Canjex Publishing Ltd.
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