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Gold/Mining/Energy : Kazakhstan minerals KMC.U -TSE
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To: virginijus poshkus who wrote (83)2/18/1999 11:52:00 AM
From: Maureen Luck  Read Replies (1) of 112
 
Vargas: The release is not about increasing reserves directly - more than that I cannot say. With respect to financing the gold/copper project, I don't see it happening until gold prices improve. Of course there are always groups who will finance at usury rates but that doesn't benefit anyone. They key is to conserve cash and remain viable for the longer term. Management of KMC have always maintained an excellent relationship with Kazak government officials, both federal and local. KMC has not experienced any of the difficulties some other mining companies have undergone. Remember there are a number of very large oil and gas companies that have been active in Kazakhstan for many years. Obviously they would not have stayed had they not been well received in Kazakhstan.

Regards

Maureen
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