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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.30

0.0%

Dec 12 9:30 AM EST

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To: Bill Jackson who wrote (3934)	12/7/1999 9:56:00 AM
From: Dave R. Webb	Read Replies (1) of 4066

Bargains!!! Bill, I have never seen such a depressed market for gold and for junior mining stocks. There is very little cash available, and companies with cash often trade for less than what is in their bank. Properties in general are valued for less than staking costs. What we see today is similar to what happened to real estate in New York in the 70's. All kinds of problems, very cheap assets, and companies managing these assets struggling. But like New York real estate, which was always in demand at the very base level, there were few options to tenants (big or small). The mining industry is going through one of these crunches right now. There is little reinvestment going on, premier assets picked off by those with cash, and we see steady (if not growing) consumption. Things must turn around (eventually). We just hope to be holding a World Trade Center or two at that point, or even an empty lot in a good location. Either would be very valuable. Dave

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