Mongolia Gold Resources Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.56

+0.3%

Nov 28 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Phil Jones who wrote (1929)	3/27/1998 12:49:00 PM
From: Dave R. Webb	Read Replies (2) of 4066

Most of the repairs were started, and nearly completed. The mill is on standby and could be restarted fairly quickly. There is no point unless there is adequate working capital....operating on a shoe-string is a sure way to screw-up, and we will not do it that way. Our partner, MAC has contributed approximately 41% of the total costs of the project. Our audits (completed by Arthur Anderson) have shown this, as well as our over-contribution. There are three clauses in our joint venture agreement that deal with this issue, two on dilution and one on penalties for under-contributing. We have discussed this with our partner, independent legal counsel, and joint legal counsel. We are proceeding as advised. Dave

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next