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Gold/Mining/Energy : kazakstan goldfields symbol kgfc

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To: roger fontaine who wrote ()	3/2/1997 6:12:00 PM
From: Thomas Blanchard	of 367

The three operating mines controlled by KazGold hold 2.0 million ounces in proven and probable reserves. That's quite significant, but the company actually plans to double its total as soon as possible. How? Each of their three primary deposits also hosts untapped, geologic gold resources that appear to be about equal in size to the reserves already identified by drilling. Shortage of capital after the Soviet collapse meant that the mines couldn't afford the drilling programs necessary to bring these resources up to the Western reserve standard. Although KazGold is exceedingly confident that they can identify another 1.5 million ounces in reserves, and possibly much more in new ore deposits nearby, these gold deposits have not yet been factored into estimates of the companies worth, which now stands at 5.50/share in Canadian dollars. KazGold should be listing more than 3 million ounces of proven reserves in the near future. This would increase the estimated worth of the company to more than 8.00/share in Canadian dollars. This total could be increased still further via another under-appreciated KazGold asset: At the same time as it obtained control over its three producing mines, Kazakstan Goldfields also acquired a 75 percent interest in two major exploration blocks covering over three million acres in total. The first is Vasilkovskoye. This huge exploration block in north-central Kazakstan is close to and on strike with the world-class Vasilkovskoye gold deposit containing more than seven million ounces of gold! The geologic structure hosting this huge deposit continues onto KazGolds license, and the company hopes to make its own multi-million ounce discovery. Two drills are now testing one of several targets that the company's geologists have identified so far. The second is Taskara, even larger than Vasilkovkoye, KazGold's Taskara license lies in the rich Dzhungor gold belt. Preliminary Soviet studies outlined an initial resource of one million ounces. As you can see Kazakstan Goldfields represents a rare opportunity to investors. A low price and exceptional properties make Kazakstan a company worth looking into. Also a highly qualified management that has already cut costs and raised efficiencies tremendously at each of the company's three mines helps too. Kazakstan Goldfield's share price should be headed uphill very soon.

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