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

To: brian krause who wrote (771)	3/19/1998 6:32:00 PM
From: Robert Dydo	Read Replies (2) \| Respond to of 1248

Yes I have noted this figure for years 1-2. Although according to October news there is no capital cost to Kazgold for processing. Interesting: Kazgold is a JV co. between the GDB and LPC. From this news I understand that Kazzinc is also a part or whole LPC. Deal for this operation is that LPC gets 75% of proceeds from purchase of zinc concentrate by Kazzinc, and 75% from sale of gold dore (which would be a combination of Au and Ag?)delivered by Kazzinc. LPC(Kazzinc)is responsible for whole operations. There is a fixed cost per tonne which would be a proportional (25%) deduction from operating profit in Case of GDB? This looks like a paycheck for GDB of some $1M per year take away processing costs. The question must be asked: If there is ongoing production? My answer: I doubt it. John knows for sure. One more thing. Does this agreement look to you as almost giveaway by GDB? Regards Robert