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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.56

+0.3%

Nov 28 12:59 PM EST

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To: Dave R. Webb who wrote (1918)	3/25/1998 9:10:00 PM
From: Bearcatbob	of 4066

In a previous post! To: dale w ruckle (1827 ) From: Bearcatbob Tuesday, Feb 10 1998 4:44AM EST Reply # of 1922 Dale, We will get a lot of answers when the mill either starts or does not. My personal fear is that they could complete the turnaround and decide that based on the POG they will place the mine and mill on a care and maintenance basis. One could say "why spend the money on the turnaround if that is what happens"? The answer is how much it costs to ultimately complete the turnaround and how much working capital is required to restart and operate until a renewed cash flow is established. If unexpected costs occur I could see this happening. I guess one other thing that bothers me is that the mill did not run very long before it needed an extended turnaround. I do not know how long a grinding circuit can run before requiring an extended shutdown. If this has to happen every six months I do not think we can make our name plate production rate. Bob

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