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Gold/Mining/Energy : Mongolia Gold Resources
MGR 21.71-0.2%Nov 12 3:57 PM EST

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To: Phil Jones who wrote (3942)1/12/2000 3:26:00 PM
From: Dave R. Webb  Read Replies (1) of 4066
 
We're busy putting together a few things that are pretty exciting. We want to make Tyhee work, and we obviously can't count on the Mongolian issues to get resolved quickly. Our focus clearly has to be where we can set the schedule.

This said, the resource market continues to underperform as a group, and individual companies doing well here are few in number. We are entering the 4th year of this downturn, and few experts believe it will last for ever. However, clearly most investors anticipate the status quo to continue for a bit longer.

Recent excitement in the diamond side, as well as some interest in platinum and palladium plays and some VMS work are indicative of some potential on the upside, but it seems to be hard come by.

Tyhee will move forward on projects that maximize the potential for gains. We have maintained communications in Mongolia, and recent missives have been received and replied to. There may be some movement, but it would appear to be glacial in pace.

Dave
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