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Gold/Mining/Energy : Mongolia Gold Resources
MGR 21.45-0.2%Dec 18 3:47 PM EST
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To: David R. Schaller who wrote (3731)7/20/1999 6:21:00 PM
From: Dave R. Webb  Read Replies (1) of 4066
 
Money is never a problem....it's the lack of the stuff that gives us headaches.

The Company had to find financing to go hand in hand with any project it was considering. Any project we reviewed had to appeal to those few people still writing cheques, or the analysts that recommend that those cheques be written. Projects were screened for "financability" by presenting "what if" scenarios to these financers.

Several axioms became evident.
1. Money for Asia was hard to come by.
2. Money for gold was even harder to come by.
3. Large sums of cash were not and would not be available unless the project were "world class".
4. Companies needed a tight, small capital structure.

In summary, a Canadian, precious metal-rich polymetallic target that is a "new discovery" (ie. a Voisey's Bay), next to infrastructure in a tightly capitalized company is the epitome of what is wanted. We heard this, and prepared the company and project to meet this demand.

The Company hopes to proceed with its consolidation in the next few weeks to put the final ribbon in place. We believe that we have heard enough expressions of interest from people and/or groups offering financing that this project can proceed quickly.

More on this later.

Dave
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