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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: long-gone who wrote (19256)	9/18/1998 3:55:00 PM
From: the Chief	Read Replies (1) of 116759

I haven't read your thread to see if this has been posted. I find it interesting, and has many ramifications!! Kinross Gold Corp K Shares issued 292,827,214 Sep 17 close $3.87 Fri 18 Sept 98 News Release Mr. Robert Buchan reports On Sept. 17, 1998, Bridge News reported that "a senior Russian Finance Ministry official said the government cannot buy any more gold this year due to the lack of funds. Head of the ministry's precious metals department Sergei Samoshin said producers are now free to sell all gold they have on the market." Kinross, 50 per cent owner and operator of the Kubaka mine in the Russian Far East, has made its first gold export as a result of the Russian government's inability to purchase the gold through its right of first refusal. Under the export arrangement, 50 per cent of the proceeds of gold exports are to be repatriated to Russia and will be used to pay in country costs as per previous gold sales with Gokhran, the Russian government agency. WARNING: The company relies on litigation protection for "forward-looking" statements. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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