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

To: RMF who wrote (1089)	10/23/1998 1:01:00 AM
From: Robert Dydo	Read Replies (1) \| Respond to of 1248

Just for comparison another drop of his wisdom: Kazakhstan Minerals Corp KMC.U Shares issued 29,546,156 1998-10-19 close $0.23 Wednesday Oct 21 1998 Douglas Casey, writing in the Oct. 1, 1998 edition of his International Speculator, says Kazakhstan Minerals is a hold at 20 Canadian cents. Mr. Casey recommended the stock in January 1996 at $13 (U.S.), in March 1996 at $13 (U.S.), in July 1996 at $7.75 (Cdn.), and in March 1998 at 40 Canadian cents. In July 1996, Mr. Casey said KazMinCo boasted a "truly impressive" spread of properties, adding that most of them will be in final feasibility within two years. In the current report, the globe-hopping letter writer does not mention feasibility studies, but he appears to assign blame for KazMinCo's share-price woes on the Kazakstan government. He says gold production has fallen to 9.5 million tonnes in 1997 from 14.5 tonnes in 1994. Further, Mr. Casey complains, the government has "stupidly" placed a value-added tax of 20 per cent on gold production. His item on KazMinCo actually fails to mention anything about the company, including its operations or management -- for both of which he once expressed admiration.