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Gold/Mining/Energy : Steppe Gold (SPE:V)

SPE 15.24

+0.3%

Nov 7 4:00 PM EST

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To: Moot who wrote (821)	3/26/1998 7:31:00 PM
From: S. E. Baker	Read Replies (3) of 1248

Hi, Moot. I almost put in a comment on my message relating to ILP, to say that I did not mean to imply that SPE would have to downsize its Mizek project. SPE already did that before seeking the $24M loan, and the next level of downsizing would be John out there with a pick and shovel loading up a wheelbarrow being pushed by Robert Bell! <ggg> The two-month DD period actually comes from John Menzies back around the end of January, I believe. I can't remember whether he said he expected a two-month period or was expecting the period to be at least two months long. So blame John for the number that everyone here is getting so haired up about! (Again <ggg>) One of my concerns is that the DD period may run so long that SPE isn't able to build the plant this year in time to get any decent level of production out of it before closing it down for the 1998-99 winter season. This could cause postponement of construction until early 99. Although I don't believe such a delay will occur, we can't be sure until the deal is signed and SPE releases its schedule for construction and first production. As an aside I thought I'd mention that there is a pattern to John Menzies' participation on this thread that interests me. He goes through cycles of being here and not being here. What I've noticed is that his periods of absence from the thread for a substantial number of days are strongly correlated to his later reappearance by announcing some important event. He was absent before the January announcement of a tentative deal with Standard Bank. He was absent for a number of days recently just before announcing the Goldbelt deal. As you can tell, he is notably absent now. Could he be busy on something and pop up soon with another nice announcement? We can hope! <g> Steve

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