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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.56

+0.3%

Nov 28 9:30 AM EST

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To: Bearcatbob who wrote (1831)	2/10/1998 6:58:00 PM
From: Phil Jones	Read Replies (1) of 4066

Agree with you, Bob. It could be that the Bumbat Mill isn't optimized for the type of ore on which it's being used in Mongolia. Perhaps it will shut down again two months after it restarts. Dave Webb was mentioning that this is a one-time upgrade, and that the Mill will only need regular maintenance in future -- but who knows. We would have to pay a visit to the site and have a good understanding of the mill process before we could evaluate just how well the Mill is performing and whether it will need a lot more downtime. We just don't know. To be frank, I don't think that Dave really knows either. I'm just going on Dave's optimism, the apparently good ore ready to go into the Mill, and the possibility that MGR may come across new finds. I guess that's why the stock is at 19c rather than $1.90 or above. I'm hopeful, but I wouldn't take out a mortgage to buy more MGR.

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