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 : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Bobby Yellin who wrote (13871)	6/27/1998 7:43:00 PM
From: goldsnow	Respond to of 116790

If Yeltzin steps down (would be for "health reasons" of course -G-) that would be just a symptom of further disintegration of Russian economy ...and that is unavoidable Yeltzin or no Yeltzin Friday June 26, 8:50 pm Eastern Time Company Press Release Silver Standard Withdraws From Lunnoe Project in Russia VANCOUVER, British Columbia--(BUSINESS WIRE)--June 26, 1998-- Silver Standard Resources Inc. (NASDAQ:SSRIF - news; VSE:SSO. - news) announces its withdrawal from the Lunnoe silver project in the Russian Far East. The company's decision is due primarily to the refusal by its Russian partners to abide by the terms of a share purchase agreement executed in December 1996, as amended in February 1997, among Silver Standard, Geolog, and the other shareholders of Geolog. Geolog, a Russian joint stock company, owns two exploration and exploitation licenses covering the Lunnoe and Arylach silver deposits located in the Magadan Oblast in the Russian Far East. Since entering into the agreement, Silver Standard has expended US$4.7 million for work on the property, completed a prefeasibility study, and was progressing toward a final feasibility study. As a stand-alone whole-rock leach project, silver prices in excess of current levels would be required to achieve an adequate rate of return, given the political environment, northern location, taxation and treatment of capital recovery under Russian accounting principles. Silver Standard has been looking at alternatives to the stand-alone project that might have generated adequate returns based on present silver prices but was unable to reach an agreement with its local partners on such a strategy. The local partners also refused to complete registration of Silver Standard's 50% interest in Geolog. To date, Silver Standard has advanced funds directly to Geolog as demand loans and incurred expenditures on behalf of and invoiced to Geolog. Funds loaned and invoiced to Geolog total US$3.2 million, repayment of which has been demanded by the company. Silver Standard has commenced legal action in the province of British Columbia to enforce repayment of amounts owing by Geolog. A Canadian smelter is currently treating precious metals concentrate exported by Geolog. Silver Standard has obtained an injunction restraining payment of funds by the smelter to Geolog. The Vancouver Stock Exchange has neither approved nor disapproved of the information contained herein. The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties which could cause actual results to vary considerably from these statements. The risks and uncertainties include those described in Silver Standard's Form 20F as amended.

To: Bobby Yellin who wrote (13871)	6/28/1998 6:40:00 AM
From: John Mansfield	Read Replies (1) \| Respond to of 116790

OT - MASTER INDEX ON Y2K ARTICLES, POSTS INDEX-Y2k-GENERAL http://www.exchange2000.com/~wsapi/investor/reply-5041833 INDEX-UTILITIES - Index to utilities embedded software Y2K issues... http://www.exchange2000.com/~wsapi/investor/reply-5041837 [INDEX-FINANCIAL] - Index to Y2K issues in the financial; legal; communication world... http://www.exchange2000.com/~wsapi/investor/reply-5041840 [INDEX-TRANSPORTATION] - Index to Y2K issues in transportation... http://www.exchange2000.com/~wsapi/investor/reply-5041836 [INDEX-EUROPE] - Index to Y2K issues in Europe... - EC - Y2K and Euro dollar - UK - France - Germany - Smaller countries - Scandinavia - Southern Europe - Eastern Europe exchange2000.com INDEX-EMBEDDED I - Index to embedded software Y2K issues... - INTRODUCTION - Entry points at SI - Opinion - Searches - IEE - Embedded systems companies - Manufacturing - Oil industry - Health and Safety - Automotive industry - Supply chain exchange2000.com [INDEX-EMBEDDED-II] - Index to embedded software Y2K issues... - Conferences and Events - DC Y2K Meeting on embedded systems - Links - Contingency planning - Requests for help on embedded systems - Fun and recreation Technical stuff: - Time Dilation - Testing - SCADA - Technical discussions on-line - Other technical discussions - Technical links exchange2000.com INDEX-EMBEDDED III- Awareness http://www.exchange2000.com/~wsapi/investor/reply-5041827