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Gold/Mining/Energy : America Mineral Fields
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To: Josh who wrote (57)12/11/1997 10:00:00 AM
From: Keith Morley  Read Replies (2) of 84
 
Hi Josh; Comments in todays (Dec 11/97) "Financial Post - Toronto"

QUOTE
Congo's Kabila unhappy with aid pledge.
Democratic Republic of the Congo President Laurent Kabila said yesterday a U.S. pledge to grant the former Zaire US$10 million was far from enough to help rebuild the dilapidated country.

"Our budget is over U.S.$1 billion. They are talking about helping the Congo. Ten million is not enough. Not at all" Kabila said. He added aid should be unconditional.
UNQUOTE

Unfortunately I had bought into this stock in the past and am holding now hold as a longer term Investment. At this point would not buy more until such time as something concrete comes out of negotiations.

To me it would seem prudent to try and get some commercial operations on the move in order to help oneself as well as looking for aother countries to give aid.

I understand that Tenke Mining is also looking to start a project in the Congo as well and from memory paid about US$50 million as partial payment for a 55% interest on a potentially rich copper-cobalt property. This property was worked on in the '70's by a consortium which included Anglo American Corp of S. Africa Ltd.

It can be seen that others are also interested in the country but progress is very, very slow. Patience is definately a virtue.

Keith
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