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

To: Moot who wrote (797)	3/25/1998 5:02:00 PM
From: marcos	Read Replies (1) \| Respond to of 1248

OK, Moot - you're on to something here - Standard Bank would have likely determined its assessment of political risk before spending time and energy on intensive due diligence. Good point. But from the standpoint of the individual speculator, I still object to the adjective 'inane' being applied to observations of possible political risk, a pattern of outright banditry having been observed in the recent past. As for other jurisdictions having greater risk - Agreed. There is no way I will consider an investment in British Columbia under the current regime, for instance. As a citizen and a resident the risks are all too clear to me. I far prefer other provinces, the NWT, M‚xico, Venezuela, Mongolia, and yes - Kazakhstan. Hope we hear from John on your dilution point ....... cheers ...... marcos

To: Moot who wrote (797)	3/25/1998 5:28:00 PM
From: Robert Dydo	Read Replies (1) \| Respond to of 1248

All the points well made, but one is open for discussion. You argued of existence of countries with more political risk? Agreed. The question is how many of those countries spread their political behavior or governmental acts indirectly or directly to companies operating there by making work impossible or taking them by the collar out of the country? I would think of two others at the moment. Sierra Leone, Congo,(ex-Zaire) I can't produce the list off the head, but if you insist I will. Checking the prices is a good start. Now look at devastation made by Indonesia to Canadian exploration, besides the bre-x scam. Their indirect or direct action of negotiating deals and shady method of distribution of c.o.w's? These are only examples of the formula. This again does not serve purpose of comparing apples to oranges, but how people by their joint experience will or would react to certain processes. Kazakhstan may as well be a heaven for John Menzies but the only way he can prove it, he needs to be in position of similar assets(operating mine- please everybody I do understand the difference between the KGFC and WWS deals) hold to it, make money with it, and develop another ones by it. Now I have also criticized Mr.Strokes for underestimating SBL in their work. "KAZAKHSTAN IS NOT A SUBJECT OF DD, SPE IS" If they won't have financing we may all pack the bags because if they can't complete one with the Bank who lends in Congo, Russia, Peru within 8-9 months, why would they do it somewhere else? 1998 is the year which Yorkton calls as promised to government as year of Mizek production?. Without Mizek story ends right there. Dilution? we are talking "all or nothing" deal here. You must also understand that John wants warrants outstanding to be exercised. Because stock is hold closely by insiders and have also restriction on it, Currently only by directly going public on various forums he may create some new interest, hopeless but attractive to John. Those warrants would bring about 18M which is a strategically strong move, especially having a mine opened on the side. K&A could be worked on without cheap deal with major just in order to maintain obligations, can be upgraded and in the process achieved better deal. His "Kazakhstan" sightings, in my opinion, serve this agenda. Nothing wrong with this at all as part of larger promo, as to its effectiveness -look at the trading. My calculations are useless as they come in sentence" what if?". One example to defeat things, Russian data could be the best but since is "Russian" I don't have to explain why may be discredited. As to regulatory approval by VSE? Would that matter if Mizek was working? No. I think for now this thread should ask one big question: When financing will be finalized? This is the only valid question at this time, rest will not matter when Mizek won't be working. Regards Robert

To: Moot who wrote (797)	3/25/1998 10:36:00 PM
From: John Stokes	Read Replies (1) \| Respond to of 1248

Moot! Their seems to be some obstruction in gaining financing for juniors in K., and since you overrule the maltreatment received by others CGZ, KGFC, WWS etc. perhaps you can identify some other cause. Goldbelt has not surrendered their offings without some misgivings and I find it interesting that SPE has attempted to sweeten the pot for their financiers by getting involved here. I find no difference in the function of SPE from other juniors other than to say that they appear to be a little more aggressive but as to mistrusting their reports I feel no more vulnerable than to any other company. Much of the delay in my opinion is more related to market conditions and weather pertaining to the production development of Mizek. Money can earn interest until needed and other than bureaucratic caution I find no reason for delay of this project financing as the weather will soon not be cause for delay.