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Gold/Mining/Energy : Mongolia Gold Resources

MGR 20.90

-0.8%

Dec 5 3:57 PM EST

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To: d:oug who wrote (3947)	1/20/2000 9:09:00 AM
From: Phil Jones	of 4066

Thanks, Doug. By Mongolia in my post I meant the Mongolian Gov't and not the average Mongolian citizen -- who innocently carries on his or her life with no clue about the business environment in Mongolia for investors from outside Mongolia. What I meant was that the Mongolian Gov't has driven away future foreign investment by not standing up to the Mongolians running MAC (who probably are tied into the Gov't) and thereby enforcing MGR's rights in Mongolia. Ask yourself what would have happened if MGR had moved its mill to the US instead of Mongolia and the US partner had refused to pay $800K owing. They wouldn't have gotten much sympathy from the US Gov't or its enforcement system. As far as TDC's share price, it would have to go to something like $5 for me to break even. Who knows. Maybe it will at some point. It's so low at present that there's no point in me selling; it's already dropped 95% of its value on my shares. Maybe if the POG/POS went up. Who knows what will happen. Phil

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