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Gold/Mining/Energy : kazakstan goldfields symbol kgfc

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To: Valuepro who wrote (365)	1/4/1999 8:57:00 AM
From: traacs	of 367

To: Klaas de Rooy From: Klaas de Rooy Monday, Jan 4 1999 8:55AM EST -Preview- World Wide Minerals Ltd - Spurned Canadian-based juniors turn to courts World Wide Minerals Ltd WWS Shares issued 58,839,225 1998 12-31 close $0.045 Monday Jan 4 1999 See Kazakstan Goldfields Corp (KGFC) In the News In its Jan. 4-10 edition, The Northern Miner notes that Kazakstan Goldfields, Central Asia Goldfields, and World Wide Minerals were among those most burned in the incredible black hole for North American mining capital known as Kazakstan in 1998. The Miner's John Cumming writes that Kazakstan Goldfields and Central Asia Goldfields spent the year embroiled in a $28.6-million (U.S.) claim against the government of Kazakstan over the cancellation of the Gold Pool joint venture. The appointment of a working group in March 1998 to resolve the dispute appears to have been a stalling tactic and Kazakstan Goldfields restarted its lawsuit in October, increasing the claim to $64.8-million (U.S.). The controversy financially devastated both companies and chased out the two presidents who have been replaced on an interim basis by chairman Thomas Griffis. World Wide Minerals was squeezed out of Kazakstan after being lured into the country to help resuscitate its ailing uranium industry, Mr. Cumming writes. In May 1998, World Wide filed a suit against the Kazakstan government in the Federal District Court in Washington, D.C., seeking damages of at least $220-million (U.S.). "Kazakstan should not underestimate our resolve to achieve full reimbursement of our loans as well as damages for our loss of profits," World Wide chairman Paul Carroll is reported stating.

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