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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.61

-0.6%

Nov 7 3:59 PM EST

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To: d:oug who wrote (3857)	10/6/1999 4:40:00 AM
From: Phil Jones	Read Replies (2) of 4066

Doug, as far as any investors who put money into the company formerly known as MGR on the basis of the Bumbat prospects, that company for all intents and purposes has gone bankrupt. Your money and my money is gone. You just have to read the latest news from the company to see the massive dilution. Any investors in Bumbat have lost their money. Any money made by TDC will go to the benefit of new investors essentially. Some resource companies make it, some don't. MGR/TDC hasn't. You pays your money, and takes your chances. You and I and others lost on this company, whatever its name. It's a lesson - and one comes out a bit wiser. I'm not sure that if MGR had kept its name and not gone 20-for-1, it wouldn't be benefitting from the big rise in the POG. We'll never know. The pre-consolidation 4c at which MGR was trading might now be 10c or more with the POG skyrocketing.

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