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Gold/Mining/Energy : ECHARTERS

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To: Bill Jackson who wrote (2704)	7/1/1998 12:41:00 PM
From: John Stokes	Read Replies (1) of 3744

Bill! Here is an interesting scenario of recent events. SPE offers for goldbelt in Kazahk-- resource reserve 6 million oz. au. SPE outlined reserves 7 million au. or equivilant ANZ buys into SPE 20% KMC.U has outlined 5 million au. or equivilant and 28 mill work cap. KMC.u trades in US funds and British in origin with probable solid financial funding foundation and ANZ and SPE I believe are both managed from Aussie origin. This looks like a promising buy out prospect with KMC. as the bidder. On a one for one basis this would be a base of app. 70,000,000 shares with a resource of 18 million oz. au oil interests and considerable unexplored mineral resource territory. The 18 billion influx from the wmf to asia will buy a lot of resources. If I was a director of KMC I know what I would be doing, but the main question will be the structure of the offer if and when it comes. This is somewhat enhanced by the development of leaching facility already underway by SPE. Also if this takes place what might be interesting is the ratio of an offer to the recent ANZ purchase of SPE shares.

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