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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: Alex Harrington who wrote (1885)	3/3/1998 11:13:00 AM
From: Glen Gordon	Read Replies (1) of 4066

Dave W. From MGR Homepage as of this morning: "The total gold production in the first year of operations is projected to be in excess of 43,000 ounces. The average production cost of gold recovered is US$121 per ounce. The overall gold recovery rate is projected at 97%." From news release today: Total Gold for 1997 - 1513 ounces (for a half year). Cost of production - $205 US per ounce. What does MGR estimate/expect to recover in ounces for 1998? I'd like to believe in MGR, but at this point I feel fortunate to be sitting on the outside looking in.

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