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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 (3794)	8/28/1999 8:58:00 PM
From: Trevor R. Teed	Read Replies (1) of 4066

Hello David: It has been a while since I posted to these forums, mainly because I have been in the field off and on for several months and because I recently changed over my computer system and I lost access to some areas. I forgot passwords. There generally has been little activity in mining exploration in the NWT. However, in recent months (weeks) there has been some activity and I always find such action exciting. I am an optimistic person and I see silver linings again. I have been recently been involved in four small projects in the NWT and Nunavut this year. Two were diamond projects, one was gold, one was an Olympic Dam type deposit. All is relatively quiet now. The only noise I hear (other than diamonds) are from the majors which are reviewing properties in the NWT. Many of the properties being reviewed are in the Great Bear Magmatic Zone or very near its boundaries. Tyhee holds properties in these areas and it holds interest in some of the ground the majors have expressed interest in. Some of these properties are held by either other public companies or private companies. The massive sulphide deposit is an interesting property. I know at least one other ASE company expressed interest in the ground two years ago but it was not available. I suspect an educational connection and a good working relationship between Mr. Webb and Mr. Goad are responsible for the recent Tyhee acquisition of this property. I suspect Fortune is busy in Eastern Canada and because it was required to survey the property or drop it a deal with Tyhee could benefit each company. Fortune could concentrate in the east and maintain an interest in a good property in the NWT and TDC now would have a means to generate a financing. I also held shares in MGR for a few years and I participated in a financing a while back. I was also distressed to see the stock languish at low prices. I also know without a big roll back and a name change it was very unlikely MGR would ever be financed again. Would you have shelled out big money for shares between .03 and.10 cents? Not likely. Although a roll back hurt me and others, including insiders, it was a lot better than a dead duck. There are a lot of dead ducks out there and if they had managed a roll back they might still be active. History tells us some roll backs are successful. Did not Cominco roll back? Take a look through the Mines Handbook and look at companies that have had roll backs. Try any company that starts with the word "Consolidated". As much as I would have liked to hold MGR in its original form, common sense tells me this would have been 100% fatal. I believe it would have soon been worthless. I think and I believe Tyhee will soon be financed and we will get another kick at the cat. The massive sulphide deposit is a very good prospect. In terms of my involvement with MGR/TDC I am a shareholder and I have vended property to it in earlier times. Most of the properties I vended MGR/TDC are still in good standing and very good ground even though the ground may be held by other parties. I think TDC will fair better than MGR if it keeps the majority of its assets in North America. The down fall of MGR may have been the majority (all) its eggs were in a single Mongolian basket. I'd be willing to bet we will not see anything like that again. So, instead of we shareholders feeling sorry for ourselves and blaming everyone and everything for our losses, lets accept responsibility for the roll back and name change and lets try again. I know I have a few dead stocks and believe me any roll back to them would be a lot better than the "Delisted", "Halted", "Suspended" or just plain old inactive. Trevor

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