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Gold/Mining/Energy : Steppe Gold (SPE:V)
SPE 15.19-0.1%Nov 6 4:00 PM EST
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To: John Menzies who wrote (903)4/27/1998 11:04:00 PM
From: traacs  Read Replies (1) of 1248
 
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This was taken from the Almaty Herald published April 23 98
______________________________________________________________

Interfax- Kazakhstan news agency last week quoted the
Kazatomprom's president Kadyr Baykenov as saying that
Kazcommertzbank, Halyk Bank and Kazatomprom JSC have signed a
contract for financing the country's uranium industry. The 6-year
contract totals $62.4 million. The government expects investments
to bring $130 million by late 1998, while the total production volume
will rise up to $180 million in 2003. Baykenov said, the total
mortgage, which includes the uranium reserves of Kazatomprom's
three uranium mining enterprises, approved mineral reserves, a part
of the production as well as a part of its liquid assets, amounts to
$200 million.

From this I think the Kazakhstan Gov is positioning themselves to repay the money to WWS and also have
them restart the project. There are some very nice production numbers that are mentioned
WWS IR person had no comment on the above other than the Kaz gov could not use the U308 as collateral for
the loan. I am sure something was worked out.
Those that are sitting on the side lines now will scramble for positions when we start to receive news releases in
the next weeks
A year end report and progress report on all properties uranium and gold will be published for the annual
meeting June 24 .Announcement pertaining to these properties will be released before the meeting

Regards
Klaas
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