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

To: Robert Dydo who wrote (1110)	11/24/1998 1:36:00 PM
From: RMF	Read Replies (2) \| Respond to of 1248

John's still sending out his newsletter, so I guess he stll believes they can make this work, unless of course he's considering a new career in journalism. <g>

To: Robert Dydo who wrote (1110)	11/25/1998 10:21:00 PM
From: brian krause	Read Replies (1) \| Respond to of 1248

There must have been a misprint. They are 60% complete on building a 100Man camp. Apparently there is 302,000 oz Au at Mizek that was included in the Definitive Feasibility Study. If we say the POG will average $330 there will be $100 mill in revenue during the life of the mine. From this we would see 62.5 mill once the $158/oz mineing cost was taken off. Then we must deduct administation fees, interest payments, ect. I would guess this could be an additional $20 mill. IMO it is a starting point for this company to develope from if they can get the financing. There is also the possibility of adding to reserves. Oh ya, I almost forgot SPE only has 59% of the deposit. ( 91.5 during recoupment of all investments) Lets hope we all can recoup our investment. I won't be selling at this time but I don't plan on buying either. Regards, bk