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

SPE 15.16

-0.6%

Nov 4 4:00 PM EST

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To: marcos who wrote (1056)	8/26/1998 11:35:00 PM
From: Robert Dydo	Read Replies (1) of 1248

There is some interesting financial data of obligations which kind a scares me, This can be found here: sedar.com Firstly Mizek exploration licence according to the report requires additional 1.9M US to be spend on till 1999. The sad part of it is that 650K must be done in 1998. Further more K&A agreement has changed and new payment schedule is in place. On July 1 company has paid $500K US and has schedule to pay 500K on September 1 and October 1, which is $1M(US). Those two other licences (0thers were dropped)Southern Urals and Selety require another $830K(US)for 1998. It is nice to read about 1.7M CAN, but already deduct July payment for K&A (probably 750K CAN) so it is 1M left. Looking for prospect to expand another 2.4M (US it is)for development of those properties is a nice vision but unless they can tap into Standard Bank's credit facility, the budget is very weak to do so. Time will tell. Robert

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