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Gold/Mining/Energy : CASTELLO CASINO CORP. (CCCZ/CSTC) -- Ignore unavailable to you. Want to Upgrade?

To: SuperBacon who wrote (247)	7/31/1998 2:23:00 PM
From: PeteC	Read Replies (1) \| Respond to of 311

The property that the casino is planned for is owned by one of the wealthiest families in Venz. According to Steve Fox and Ross the family was holding up giving Castello the lease because they felt that if he signed a deal with them that there was no assurance that the government was going to give them the license. Fox is 100% certain that he is going to get the license. In his last visit down there about a month ago he changed the lease agreement to have a contingency stating that if the government did not grant Castello the license they ,the proprty owners, could walk away from the deal. Also these people have not been very forthright with their dealings with Castello. They have been shopping the proprty around. Also the elections this year are causing concerns. The issue is not the license its the LEASE. They also keep upping the ante.This is a tough crowd. I agree that things go slow in these third world countries,but,they changed their laws to have a Las Vegas style situation and draw tourist. Its the property owners more than the government.