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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.28

+0.5%

Nov 21 9:30 AM EST

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To: Phil Jones who wrote (1872)	2/24/1998 7:03:00 PM
From: Glen Gordon	Read Replies (2) of 4066

Phil, Out to destroy MGR - no, the destruction of MGR is only a side-effect. The aim is to make money. Even without these games, MGR would be heading lower. What would be in it for them? You've answered your own question. Virtually all of the trading below 20 cents has been from one house swapping with another. By swapping large numbers of shares (albeit small dollar volumes), it gives the appearance that many investors are bailing out. This encourages some investors to actually sell their shares. When they do, guess who buys them. In the junior gold market, its the only way that anyone has made any money over the past several months. Once the price gets low enough, they'll back off for a few weeks and the price will go up some, though not to the levels it was at when they started. Then the cycle will start again. Does it work? Well, you're probably considering dumping your shares at the current price even though you were perfectly happy keep them at a price that was much higher. What has changed? The ONLY thing that will cause this type of activity to stop and allow the juniors to recover is a steep increase in the POG. The longer it stays low (closed at $291.40 today) the less chance MGR and a plethora of other juniors have of surviving. Glen

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