Goldbelt Resources (GDB.V) - anyone follow this ? Message Board

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Gold/Mining/Energy : Goldbelt Resources (GDB.V) - anyone follow this ?

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To: John Sladek who wrote (12)	10/15/1997 6:44:00 PM
From: John Sladek	of 44

To whoever is reading: It looks like something is finally happening for GDB in Khaz! It's not exactly what they were looking at doing originally, but at least there's some activity, and some immediate cash flow for the company! It looks like GDB and LPC have finally come to an agreement on how to develop the Leninogorsk ore body. I guess that there were diasgreements between GDB and LPC on how to proceed, but today's announcement seems to indicate that this is cleared up. Now all they have to do is to convince the gov't of Khaz. to ammend their mining license. If this doesn't happen there will be some big trouble. GDB may have to relenquish the license if the Khaz. gov't decides to jerk them around. A description of this problem is contained in section 11 of the 1996 annual report "Contingencies". I think that GDB's management should be chastised for not providing this invormation in their 1995 annual report, since they failed to meet their 1995 commitments, and would have known at the time of writing the annual report that this was the case. Anyways, the capricious Khaz., gov't looks like the next hurdle for GDB. Regards, John Sladek

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