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Gold/Mining/Energy : Mongolia Gold Resources

MGR 20.90

-0.8%

Dec 5 9:30 AM EST

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To: Phil Jones who wrote (1887)	3/8/1998 10:46:00 AM
From: Dave R. Webb	Read Replies (1) of 4066

The start-up date has not changed since our last news release last week. Production for 1998 is being revised from our forecast in January. We should be able to report this once we recalculate the reserves. We needed the reconciled head grades released last week so we can evaluate how accurate the previous calculations had been. There was excellent support of the previously calculated grades, but there are some differences as to the distribution of the grade within the reserve blocks. These figures are being taken into account for the latest calculations. Dave

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