Steppe Gold (SPE:V) Message Board

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

SPE 15.22

+0.1%

4:00 PM EST

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To: RMF who wrote (895)	4/22/1998 11:41:00 PM
From: Robert Dydo	Read Replies (3) of 1248

I am still holding. I don't know any figures but there will be probably millions of shares now and as much in warrants later. I knew that April was critical and it was really tough to believe that Mizek will produce this year as news wasn't forthcoming. I don't think it is over and financing will be secured after all, but in short term I will have more options to average down than anything. I have a long term approach to this company and I think this is a setback but not a catastrophy. I would see three or maybe four events making stock move upwards. 1. Definitive financing of the Mizek project with production set for 1999. 2. JV on K&A or even larger area of Mizek licence. 3. Drilling of any of the targets from April 1 release in healthy environment of POG wondering around $330 to $350. 4. Some unexpected fix from Leninogorsk in the form of cash flow. Obviously there is a number of negative elements which can easily make this stock go down and as you know this happens more often and in very rapid motion. Right now the other team has the ball, but the game ain't over yet. We have never experienced any rally and Mizek wasn't producing either. The price it seems have accounted already for non-performance and if SBL gives the money this is as much a winner with or without production for 3 months of the year, which probably would not matter much anyway. This company has plenty to offer and if you have a time and patience it maybe even awarding. Robert

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