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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.28

+0.5%

Nov 21 9:30 AM EST

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To: Bearcatbob who wrote (3031)	1/16/1999 9:07:00 AM
From: Pete Schueler	Read Replies (1) of 4066

Bob, I will agree that in the short term its more important to make money on a going business than to jeopardize that business to get rid of a poor partner. However, if you're looking into the long term and if you are confident that you are not going to kill the business, its better to be rid of that partner who most certainly will continue to cause problems in the future. This is strictly a matter of short term/long term strategy vs perception of risk. There is no correct answer, just a decision based on all the known facts some of which we don't know but Dave does. It is clear that you think the the mill operating costs are higher than those that have been announced. If you are right on this point I can agree with your point that the partner may be used as an excuse to close the mill. My opinion is that the announced mill costs are reasonably accurate. Why? Because why would there be so much wrangling over an asset that had no economic value. Its just a hunch with few supporting facts. Pete

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