Warning: very long statement, if you get bored don't feel guilty to skip it, especially you Micap.
Frankly I don't know. Politically, emotionally bound with Serbia Russia has a little choice but protest NATO strikes. How economic horizon would change in Russia towards West, would be a question what Russia can afford to do? I don't believe that can do much.
Kazakhstan is a independent country, which has a large population of Russians ,but still I believe Muslim population is larger and I would think more sympathetic to Albanians than orthodox Serbs. I would imagine that Kazakhstan would part with the NATO than Russia. Matter of volunteers is not a new subject, you are probably aware of Iranian volunteers fighting against Serbs in Bosnia couple of years back. That as you are aware didn't stop friendly to Serbia Russians from selling the nuclear technology to Iran, so once again in history money talks and no matter what sort of emotion is there. Bottom line is that I don't think that Western investment in Kazkhstan would be affected by this in any way.
As a matter of Steppe,firstly I am totally awake, the scenario I have written is one of many I witnessed although I have never personally experienced myself. Secondly due to lack of experience, If you know how to write off the investment in the delisted company without actual disposal of shares, with the benefit of tax loss credit, I would appreciate your comments. If you have the shares of SPE I buy them all from you for a $1 if this is your comeback advice.
Obviously defunct Steppe holds value, since Mr.Mancuso is suing for 109K on behalf of Sterling Pty. of West Perth, Australia, I don't see any reason not to stick around with my puny investment to find out where all of this will lead to.
If you look at history very own Steppe this what happened in 1996:
"Control Science Corporation
CLD
Shares issued 5,504,630
1996-04-04 close $0.88
Tuesday Apr 16 1996
Mr Edward Farrauto reports
The company has entered into an agreement effective April 4 1996 with MCL
Limited, Behan Limited, Minproc Engineers Limited, Trebor International Limited
and First Mining Finance Limited (the vendors) to purchase all of the issued and
outstanding shares of Steppe Gold International Limited for US$10,800,000 and
2,000,000 shares payable over approximately seven months. The shares will be
subject to a one year hold period.
The closing of the sale is subject to the satisfaction of a number of conditions,
which include:
The company having raised $1,610,000 for the purchase price. The company has
negotiated a brokered private placement totalling $1,610,000 with Haywood
Securities. These funds will be raised by the company issuing 2,300,000 units at
$0.70 per unit.
The company reserving up to 600,000 common shares for stock options to
Robert Bell, Douglas Young and John Menzies, as to 200,000 shares each, at a
price not to exceed $1.40 per share for a term of five years.
It is the intention of the company to change its name to Steppe Gold Resources
Ltd.
Receipt of approval by the VSE to the terms of the agreement.
Steppe, a British Virgin Islands company, holds a 59% controlling interest in the
Mizek joint venture, a limited liability partnership with two private Kazakh
companies. The JV has the exclusive right and license to explore and develop the
Mizek gold and copper project in northeastern Kazakhstan, approximately
650km north of Almaty, the capital. The project covers a mine area of 160
hectares containing an indicated resource deposit of 2 million ounces of gold and
90,000 tonnes of copper and an exploration area of approximately 3400 sq km
(excluding two polymetallic deposits)."
This what happened in 1987:
Control Science Corporation
CLD
Shares issued 1,325,000
1899-12-30 close $0
Monday Oct 19 1987
Effective at the opening, November 19, 1987, the shares of the company will be
suspended from trading, for failure to maintain satisfactory transfer facilities for its
shares.
Members are prohibited from trading in the shares of the company during the
period of suspension or until further notice. "
This what happened day after
"Control Science Corporation
CLD
Shares issued 1,325,000
1899-12-30 close $0
Tuesday Oct 20 1987
Wren Resources Ltd (WNS)
Pursuant to a special resolution passed December 12, 1986, the company has
changed its name from Wren Resources Ltd. to Control Science Corporation and
has increased its authorized capital to 100,000,000. There is no consolidation of
capital.
Effective at the opening October 21, 1987, the common shares of Control
Science Corporation will be posted and called for trading on the VSE and the
common shares of Wren Resources Ltd. will be delisted. The company is, under
the rules of the exchange, a development company. "
and this is how this started:
"Wren Resources Ltd
WNS
Shares issued 0
1899-12-30 close $0
Friday Feb 22 1985
Further to the Vancouver stock exchange notice dated effective February 18,
1985 the company has now completed its initial distribution of shares to the
public. The gross proceeds received by the company from the offering were
$97,500.
Effective at the opening February 25, 1985, the common shares of the company
will be posted and called for trading on the development section of the Vancouver
stock exchange.
Capitalization:
10,000,000 shares with no par value of which 1,325,000
shares are issued and outstanding
Escrow:
750,000
Transfer agent:
Guardian Estates and Agencies Ltd.
Trading symbol:
WNS
Security number:
743367
Sponsoring member:
Brink, Hudson and Lefever Ltd.
The shares of the company will become eligible for margin on May 27, 1985.
The shares of the company are considered to be in the course of primary
distribution.
The shares of the company are eligible for the indexed security investment plan.
For further information please refer to the company's application for listing dated
February 20, 1985 and the company's prospectus dated December 31, 1984. "
This is just to show you that this time the assets are little bigger and sooner or later we will have suitor to take a place of Steppe and take care of $20M investments. I am willing to hold that concept indefinitely. |
