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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.29

-0.2%

Jan 8 3:53 PM EST

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To: marcos who wrote (2378)	7/3/1998 8:27:00 PM
From: Bearcatbob	of 4066

Marcos, I recently had an opportunity to visit a plant I helped to start up 20 years ago. Much of the equipment was the same I left. We spent 9 months in startup and the initial economics were terrible - lots of operating capital was sucked up. So, yes, well maintained equipment can sing for a long time - and plant startups can be very expensive. We tore up a compressor - big bucks and big delay. What do you think would happen if a gear broke? So, how well do you think the Mongo mill is being maintained. Are the Mongol Pinkertons on the job - or is it a source of light bulbs for the natives. Also, where will the management and operating staff come from.. I guess the mine manager is no longer around. Have we been paying this staff for all these months to stay on the side lines. If not, how long will it take to train a new crew. A few good screw ups by plant rookies ought to be the price of a long shutdonw. Marcos, if I get the time I will go back and see what the total production was over the short time that wore out the residual value of the liners. My opinion is that there is far more to that story - but who cares.

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