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Gold/Mining/Energy : Mongolia Gold Resources
MGR 21.50+0.3%3:59 PM EST
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To: Phil Jones who wrote (1854)2/14/1998 2:19:00 PM
From: RonS  Read Replies (1) of 4066
 
Phil,

MGR's mine is definitely a means of financing their exploration
efforts. I believe they have some prime land holdings, but these
will require lots of money and/or time to explore and develop.
Dave will look like a visionary if gold gets back up to say the $350
to $400 level and the result will be that MGR will have an excellent
little money making operation to fund the company's exploration efforts.
The pressure will be off to develop other less desirable means of
financing, as so many other juniors will be looking to do. This will
set MGR apart from the crowd. With cash in hand, I believe that MGR
will be able to really focus on their exploration programs and perhaps
spend money to hire the more geologists, do more geophysics, or drill
that extra anomaly. This is a bet not only on Dave's management and
exploration abilities but also on the prospects of Mongolia. I think
everyone agrees that Mongolia holds huge potential. It has been lightly
explored and MGR was the first exploration company in Mongolia able to
cherry pick their land holdings. I agree that currently the MGR
situation is unsettling. This could all change quickly if MGR finds
something really exciting with their current exploration activities.
MGR's exploration budgets should increase if the POG goes up, and
this in turn should increase MGR's chances of finding that right anomaly.
Perhaps we all got into MGR to early but I believe the POG will begin
to go up (even more), and that a mine is just waiting to be discovered
in Mongolia on MGR's property. That will be the time when the majors
will come knocking on Dave's door, and they better have a wheelbarrow of
cash with them.

Patiently Waiting
RonS
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