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Gold/Mining/Energy : Starpoint Gold -- Ignore unavailable to you. Want to Upgrade?

To: Imran who wrote (1923)	3/26/1998 1:55:00 PM
From: Qwerty	Read Replies (1) \| Respond to of 2378

Lets hope... but the way STS has bungled (no thats not the right word) fucked up the other deals they have tried to do, nothing would surprise me.

To: Imran who wrote (1923)	3/26/1998 7:16:00 PM
From: Brian J. Hirsch	Read Replies (1) \| Respond to of 2378

Imran and all, The fact that mining is occurring on STS's property by locals is not necessarily 'good'. As Imran correctly pointed out, the locals are not going to be content finding an alternative source of income. I have not heard anything about a jv with Congo locals--shouldn't jv's be conducted (ideally)with majors? Why is STS concerned with the number of locals, or that they claim to be mining and selling gold? STS's concern should be securing their properties, testing and drilling, financing(jv), and bringing the co. to production--AND securing the property regardless of whatever insignificant amounts are being taken(stolen). However, there does exist a psychological reason for making public this info: investors can imagine about a thousand people picking gold up from the ground(assumption gold exists) and that when modern equipment arrives...$$$--wishful thinking! Traditionally, mining in Africa and in other developing nations presents a number of difficulties and obstacles. Many Western companies are unable to deal with issues of corruption, security and even violence which "come with the territory". It is one thing for the principals of STS to negotiate and purchase properties from (often corrupt) governments, is it yet another to secure the properties and bring them to production. Even if STS does take care of the gov't, what about local chiefs and warlords who also claim title to the land(not to speak of the actual local miners)? It remains to be seen whether STS can do this. an aside; watching the technical action on STS over the last few months it is quite clear--despite news and developments, that certain parties are keeping the price down. As was the case with the failed Angola properties, STS did not over come obstacles at home (with the vse and____) and in Angola. They would do well to keep that lesson in mind BEFORE embarking into the promotion phase/cycle. just my take. brian ps. nice to see rick and harry do the financing themselves. was it the only way they could raise the funds or do they believe the stock will appreciate?