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Gold/Mining/Energy : Steppe Gold (SPE:V) -- Ignore unavailable to you. Want to Upgrade?

To: brian krause who wrote (461)	1/9/1998 6:21:00 PM
From: RMF	Read Replies (2) \| Respond to of 1248

We almost had a rally today. Tremendous deposits, and a land package with unlimited potential.

To: brian krause who wrote (461)	1/13/1998 10:15:00 PM
From: John Menzies	Respond to of 1248

Brian, I am always on company business. But the principle purpose is corporate Steppe. We are progressing the project financing as previously discussed and announced - can not say more. The project permitting in country is going very well - much better than we would expect in a western country. We translated the EIS and feasibuility study into Russian and have been progressing it through the permitting process. We do business very comfortably in Kazakstan. This is commonly recognised by other companies who are or would like to operate in the region. Really brings up the question of why some other companies have had some much trouble. We have a largely Kazakstan staff in country and have been there for a considerable period of time and have performed. I find it more than a little exasperating that the market has a view of Kazakstan akin to that of say Indonesia or worse. I also find it amusing that there seesm to be a completly different view of oil companies be they arge or small operating in the country and companies in the mineral sector. Is there really any difference between the government attitude to the two sector - probably not. Regards john menzies