Mongolia Gold Resources Message Board

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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.44

0.0%

1:21 PM EST

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To: Bearcatbob who wrote (3701)	6/30/1999 11:28:00 PM
From: d:oug	Read Replies (1) of 4066

Bob, I'll let the words of the news release, written by Dave Webb, answer you question to the degree that you can wonder. << Mongolyn Alt Corporation ("MAC") has entered into a debt repayment schedule with the Trade and Development Bank in Mongolia to extend over the next 2 years.>> I bet that a prerequisite for this was that MAC had to show the bank that they have an income sufficient enough to do the payments. Now does anyone know if MAC has a source of money outside Bumbat ? If not, then they will be hot to trot to bet Bumbat up and running. <<The Company [MGR] is continuing its efforts to resolve issues surrounding their participation in the Bumbat Company Ltd. MAC had been trying to sell their interest in the Bumbat Company Ltd., but the outstanding loan issue had complicated the situation.>> Gee, maybe MGR could get the cash after the 20:1 to buy out the MAC 51% part of Bumbat. Or maybe cash and part of the profits for the next two years. doug

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