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

To: S. E. Baker who wrote (831)	3/30/1998 11:30:00 PM
From: Robert Dydo	Respond to of 1248

Hi there Steve. I could not find anything of this sort in official publications. During the process of looking through various releases I found a clip from the Financial Post dated July 17/97. Just for fun I copy here a summary of this article published by Stockwatch: "The Financial Post reports in its Thursday edition that Steppe Gold Resources says it is set to begin construction of a US$23.3 million gold mine at its Mizek property in Kazakhstan. The company is doing so after receiving results of an economic study indicating the mine can produce 324,000 ounces of gold and 260,000 ounces of silver over a projected five-year life span. Steppe has a 59 per-cent stake in the property but it will get 91.5 per-cent of cash flow until exploration, pre-development and capital costs are repaid. The startup is slated for next year. The company has elected to begin construction before having financing in place. Steppe shares fell $0.04 to $0.27 on Wednesday on the Vancouver Stock Exchange." For interesting summary of Steppe's achievements I would like to direct you to the website of "RealityCheck", the only person currently engaged in bringing SPE to the readers of "Stockman forum" which is available on Stockhouse. geocities.com Regards Robert

To: S. E. Baker who wrote (831)	3/30/1998 11:58:00 PM
From: brian krause	Respond to of 1248

Steve, it seems that we have a different point of view. I have only been involved here for a year so make no claims on what has happend in the past. From were I see it could be argued that financing requirements have gone up, on the other hand, cost of production has gone down and there will be more production. (60,000 vs 80,000) The following links will help show where I am coming from. The first one is from about this time last year... I think you refer to this as the time of down sizing. April 97 info-mine.com You will note the production of 60,000 oz of gold and costs under $200. The second is more current. Jan 98 info-mine.com This will predict 80,000 oz per year (at least in the first year of production.) Any information that you or anyone else could provide regarding this would be greatly appreciated. Approximate dates would be helpful.