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

To: Robert Dydo who wrote (770)	3/19/1998 5:14:00 PM
From: brian krause	Read Replies (2) \| Respond to of 1248

John, In the news release Robert has posted it states that KazGold has decided to proceed with limited production of the tailings (this reference is in the last paragraph) has any production taken place? Robert, the 1.5 mill I wonder about is for the first 2 years of production as described at goldbeltres.com and does SPE plan on production from these tailings this year?

To: Robert Dydo who wrote (770)	3/19/1998 5:17:00 PM
From: John Menzies	Respond to of 1248

our opbjective in this matter will be much the same as Goldbelt - we do not want to make tto much change too quickly. What we find appealing is that Goldbelt started a strategy to develop the deposit on a smaller scale tahn previously. Down from 7MTPA to 1.5MTPA. This makes a lot of sense and the depsoit does have a higher grade component which looks attractive. We need to conclude the due-dilgence and do some fundamental analysis of process route - CAPEX and operating costs. I am pretty excited about the potenital of this deposit but we have a way to go - one step as a time. It would be nice to bring this to production on the back of Mizek. It is possible that we could use the gold room and carbon regeneration circuit planned for Mizek to treat the loaded carbon from Leninogorsk - just some blue sky thoughts - subject to review and revision without notice. Regards John Menzies