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Gold/Mining/Energy : Kazakhstan minerals KMC.U -TSE
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To: virginijus poshkus who wrote (54)10/9/1998 11:52:00 AM
From: Maureen Luck  Read Replies (2) of 112
 
Virginijus: I think in time investor confidence will be established with respect to Kazakhstan. Our Chairman, Mr. Tony Williams likes to compare Kazakhstan to Chile in as much that not too many years ago the idea of investing in mineral projects in Chile was not popular. Chile is now touted as the premier country in which to invest in that part of the world and its mining laws are being implemented in other South American countries. By the same token, our projects are not in rugged mountainous areas (as they tend to be in Chile) and we have a great deal of infrastructure already in place. Regarding financing of Varvarinskoye, I wish I could tell you when it is going to happen, at this time management are steadfastly working on obtaining financing but I think it is going to take a stable gold price before it happens. Yes, it is possible not only to repatriate profits from Kazakhstan but also to take the physical gold out of the country for sale.

Thanks for good wishes for thanksgiving. I will be on vacation from October 29 to November 23 - I will have someone accessing my answering machines for messages so if you need a question answered during that time, the number is 1-800-367-1735 or 604-883-2565.

Regards

Maureen
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