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Gold/Mining/Energy : kazakstan goldfields symbol kgfc

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To: roger fontaine who wrote (299)	10/8/1997 11:44:00 PM
From: Jesse	of 367

Placer Dome Inc - Dispute settled with Kazakhstan government Placer Dome Inc PDG Shares issued 239227695 1997-10-08 close $26.75 Wednesday Oct 8 1997 Mr John Willson reports Placer Dome has settled a dispute with the government of Kazakhstan arising from an April 1995 agreement for exploration and development of the Vasilkovskoye gold deposit under which Placer Dome paid the government a refundable US$35 million deposit. The government today made a cash payment in the amount of US$25 million to Placer Dome under a settlement agreement in which the parties set aside all further claims against each other. Because the initial payment by Placer Dome was fully expensed in 1995, substantially all of the payment will be reflected in earnings in the fourth quarter. Placer Dome is pleased to have resolved the differences and to have recovered most of its exploration expense payment from 1995. Now the company can resume building a mutually beneficial relationship with the Kazakhstan government. Placer Dome remains interested in the geological potential of Kazakhstan. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

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