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Gold/Mining/Energy : ECHARTERS -- Ignore unavailable to you. Want to Upgrade?

To: E. Charters who wrote (2028)	12/15/1997 4:04:00 PM
From: John Menzies	Read Replies (1) \| Respond to of 3744

Eric, Time to enter the new age - political risk in Libya or Mexico is historic - look at the new political risk in Australia - 30 years to get a uranium mine in operation. What about native title in Australia - woowa - no solution. Did I hear someone say "if Inco does not develop a smelter in Newfoundland then there will be no nickel mine" or maybe I got that wrong was it "if there is no diamond sorting in this provice we will bury the project in taxes" , and I think the latter project is in development. Was it not Cogema who were recently voted inappropriate to develop a Uranium mine here in Canada - no I must be mistaken. The list goes on - appropriated gold projects, coal projects - enormous project delays at all stages. Is Kazakstan any better or worse. A couple of companies - contractors managing aging old soviet era operations- fall out with their partner and loose their contract. I naturally make no comment - their efforts were heroic, taking on such a task. I am not that heroic. Chevron et al and once minnow Hurricane dropped into the country and went striaght into production and recently did a $100 million note issue. We find doing bsuiness in this country to be as easy or difficult as anywhere else. The trick in good management is to take on the inevitable problems of managing a company in a professional manner so that from an outsiders perspective the operation is seemless and continues from now to objective more or lesss on schedule and budget. Rumour has it that the Canadian Mining Newsletter is going to be nationalised and published free of charge as a daily insert in the FP- that would be a worry - Eric at breakfast. Regards