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

To: tango who wrote (802)	3/25/1998 7:58:00 PM
From: Robert Dydo	Read Replies (1) \| Respond to of 1248

Hello Tango. We are stating that current relevancy of technical and legal dd of SBL in the light of termsheet offered to and accepted by SPE is being directed towards SPE not at Kazakhstan in regard and particular issue of political risk. This believe does not imply that such dd wasn't perform and I would even conclude that was of positive results observing the developments. You are probably aware that certain financial groups will not engage themselves in particular settings which could be characterized as "risky" environment, at the same the character and extend of this risk has internal formula specific to the institution. The representation provided by Endeavour Financial Corp. was to align institutions with such predispositions with SPE to carry financial backing for this project, within their risk flexibility if you will, and this long process has introduced SBL to the table. Therefore insisting on large factor of political risk in finalization of the financing issue at this stage, would question actual process, result and method of EFC's work as well as degradation of SBL offer to not essential, plainly mistaken act which must, due to above, be reversed. The situation Of Steppe and its matters in Kazakhstan is the factor in this dd and in case of any compromise on those issues may be related to similar conditions existing within Kazakhstan and government's method of dealing with them. In this statement am positive the issues of company you are involved in have taken appropriate time and analysis and as time table shows termsheet has followed unpleasant events, allowing my optimism. The topic of the discussion here is not if the stock will reach the moon, but what are the consequences to the trading pattern if financing will be approved if any. The fundamental data speaks for itself and in long term if all obligations will be met, there is no question that appreciation of our investment will be a logical follow up. I don't think there is any blind present on this thread as you may again refer to the posts here and find very direct and tough subjects in which strong supporters are taking part. With stock being at $3 (I wish you study more data)this company would have $20 million in the bank account and the financing issue could have a lesser priority. I am hopeful that you are wrong in your opinion of dawn after financing but this market is capable of walking allover the value with the persistency of dog looking to take care of its immediate needs. Regards Robert