Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU -- Ignore unavailable to you. Want to Upgrade?

To: bill718 who wrote (3479)	6/15/1998 10:17:00 AM
From: bill718	Respond to of 4718

Today's Northern Miner (June 15-21) has an article on Antares/Steppe: "Enticed by Kazakstan's mineral potential, Antares Mining & Exploration (ANZ-T), has cast its net over a portion of the shares of Steppe Gold Resources (SPE-V). The latter firm operates the Mizek gold project and two nearby polymetallic deposits in Kazakstan. Toronto-based Antares will invest $300,000 in Vancouver-based Steppe by way of a private placement of 1.5 million treasury shares of Steppe at .20 each, plus 750,000 warrants. In so doing, Antares will gain an option to invest a further $1.7 million in Steppe on or before June 26 by acquiring a debenture from Steppe that would be convertible into 7.7 million Steppe shares at .22 each and 7.7 million warrants, with each warrant entitling Antares to acquire an additional Steppe share at .22 for one year. Alternatively, the debenture can be converted into up to a 20% share of Steppe's interest in the Mizek project. Mizek, an oxide gold heap-leach project, is expected to produce 80,000 oz. gold in its first year of operation at a cash cost of about US$120 per oz. Startup is scheduled for later this year. As of July 1997, proven and probable reserves were 5.5 million tonnes grading 2.14 grams gold per tonne and inferred resources were 1.2 million tonnes grading 0.8 gram gold, based on a 0.8-gram cutoff grade. Steppe also operates the Kosmurun and Akbastau deposits, 40 km south of Mizek, which boast aggregate measured and indicated resources of 1.8 billion lbs. copper, 850,000 oz. gold, 300,000 tonnes zinc and 16 million oz. silver. Recent confirmation drilling at Kosmurun returned 90 metres grading 4% copper, 2.5 grams gold and 3% zinc, as well as 52 metres of 2.8% copper, 5.6 grams gold and 7% zinc."

To: bill718 who wrote (3479)	6/15/1998 11:33:00 AM
From: Donald F. DeKold	Read Replies (1) \| Respond to of 4718

Thanks for sharing the Northern Miner article, Wayne. Since you've been tracking developments in Indonesia with such diligence, I hereby elect you to add Kazakhstan to your list :-) FWIW, talked to Peter Southward this past Friday. He noted that K'stan was a fairly stable part of the world. He referred to someone within the Steppe organization that married a Kazakhstani and has lived there for five years. Don't know whether that means the country is stable or the women are very alluring. Antares should be getting some lab results this week. Hope we hear something. The trading activity that's going on hopefully portends good news. Could it be that ANZ is buying up its own shares? (My thoughts only; no foundation for them in what Peter had to say.) Don