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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.45

+0.9%

Jan 9 9:30 AM EST

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To: Farmer who wrote (2708)	10/6/1998 12:37:00 PM
From: Dave R. Webb	of 4066

Price is always an issue. Although MGR is not a seller nor the buyer at this point, I can say that negotiations started out continents apart. Reality checks prevail and discussions have moved to the same ballpark. Anything could derail discussions, but right now there seems to be a consensus to tweek the proposals to make this work. MGR has the right of first refusal, and similar to any bidder, would naturally like to see a low price. MAC is the vendor, and naturally wants to see a high price. We concede this. The question is, what other motivating factors exist? We can guess at some that relate to MAC or any other bidder, and are aware of what else may motivate us. It is likely one or more of these "other issues" that will make the sale, as these unquantifiable (or not easily quantifiable) factors are often much more valuable to one party than the other. This is where real horse trading can occur. Dave

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