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Gold/Mining/Energy : Kazakhstan minerals KMC.U -TSE -- Ignore unavailable to you. Want to Upgrade?

To: virginijus poshkus who wrote (54)	10/8/1998 8:37:00 PM
From: bill718	Respond to of 112

I think financing new mines is a world-wide problem now for many companies... and this is certainly not isolated to Kazakhstan. Perhaps a good run-up in POG will be necessary to change sentiments towards the entire mining industry, which could easily be triggered by any one of several possibilities including... a global crash in most sectors and especially US currency, massive selling of N. American assets by Japanese and others, hedge fund short covering, etc., etc. Certainly a lot of discussion pertaining to this subject on the gold price monitor thread. Such a complicated equation that nobody really seems to know which way things will go, but unless POG and public perception of gold as an investment improves considerably first, I can't see financing getting any easier to obtain for any exploration companies. Personally, I think it will happen... but over time. Regards, Wayne

To: virginijus poshkus who wrote (54)	10/9/1998 11:52:00 AM
From: Maureen Luck	Read Replies (2) \| Respond to of 112

Virginijus: I think in time investor confidence will be established with respect to Kazakhstan. Our Chairman, Mr. Tony Williams likes to compare Kazakhstan to Chile in as much that not too many years ago the idea of investing in mineral projects in Chile was not popular. Chile is now touted as the premier country in which to invest in that part of the world and its mining laws are being implemented in other South American countries. By the same token, our projects are not in rugged mountainous areas (as they tend to be in Chile) and we have a great deal of infrastructure already in place. Regarding financing of Varvarinskoye, I wish I could tell you when it is going to happen, at this time management are steadfastly working on obtaining financing but I think it is going to take a stable gold price before it happens. Yes, it is possible not only to repatriate profits from Kazakhstan but also to take the physical gold out of the country for sale. Thanks for good wishes for thanksgiving. I will be on vacation from October 29 to November 23 - I will have someone accessing my answering machines for messages so if you need a question answered during that time, the number is 1-800-367-1735 or 604-883-2565. Regards Maureen