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Gold/Mining/Energy : WWS.T World Wide Minerals
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To: DFOUTS who wrote (505)6/3/1998 9:19:00 AM
From: traacs  Read Replies (2) of 784
 
[NB98.22-13] World Wide Minerals has had to
'substantially curtail' development activities at the Dornod
uranium mine in Mongolia because of a shortfall in corporate capital
resulting from the delay in the recovery of investments from
Kazakhstan. Nevertheless, the company still feels it will be able to
complete Phase 1 of the project in time to begin delivery of
Mongolian uranium under contracts commencing in late 1998 or
early 1999. World Wide recorded a net loss of US$516 000 for the
first quarter of 1998, although the Toronto-based firm expects to
make a profit of about US$450 000 for the second quarter based on
contracts in place. (World Wide Minerals, 29 May; see also News
Briefing 98.20-8)

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