Just for comparison another drop of his wisdom:
Kazakhstan Minerals Corp
KMC.U
Shares issued 29,546,156
1998-10-19 close $0.23
Wednesday Oct 21 1998
Douglas Casey, writing in the Oct. 1, 1998 edition of his International Speculator,
says Kazakhstan Minerals is a hold at 20 Canadian cents. Mr. Casey
recommended the stock in January 1996 at $13 (U.S.), in March 1996 at $13
(U.S.), in July 1996 at $7.75 (Cdn.), and in March 1998 at 40 Canadian cents. In
July 1996, Mr. Casey said KazMinCo boasted a "truly impressive" spread of
properties, adding that most of them will be in final feasibility within two years. In
the current report, the globe-hopping letter writer does not mention feasibility
studies, but he appears to assign blame for KazMinCo's share-price woes on the
Kazakstan government. He says gold production has fallen to 9.5 million tonnes in
1997 from 14.5 tonnes in 1994. Further, Mr. Casey complains, the government
has "stupidly" placed a value-added tax of 20 per cent on gold production. His
item on KazMinCo actually fails to mention anything about the company, including
its operations or management -- for both of which he once expressed admiration. |
