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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: Bearcatbob who wrote (1874)2/24/1998 9:57:00 PM
From: Phil Jones  Read Replies (1) of 4066
 
Bob: We're only four weeks away from the mill restarting. And Dave has stated that the grade of ore going in will be better than before. The first four months were close to breaking even. So I expect that for the last nine months of 1998 the Bumbat Mill will be paying for its own operating costs, MGR's administrative costs, and putting aside some exploration funding. Like other junior golds, it needs the POG to go up at least US$50. My view is that such increase in the POG will happen as 1998 goes on.
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