Hi Dave, I, personally have no problem with that line of thinking. In fact, it will be good to get the whole thing resolved and move on from there. Will you be pursuing a possible j.v. on the Altai? I thought if you pursued that avenue, then it would move that project along, while the question of Bumbat works it's way through the legal system. The sheer size of the claims leads me to believe you would need a j.v. partner, in any event, to share the costs. Am I right or wrong?
I don't post much these days, because I don't have too many things to say, other than I still feel positive about the future of the company. It seems that the best laid plans of mice and men, sometimes, do go awry. It's unfortunate that this had to happen, but now that it has, it will end the money drain, whereby they were holding 51% and contributing nothing. In an ideal world, they would have paid their fair share, and enabled you to use that money for exploration on the Altai, instead of having to put it up front and carry the whole burden. Perhaps in the long run, this will prove to be a pivotal moment for MGR. Between the POG and the default by the partner, it has been a rough ride, and perhaps you're overdue for some good luck for a change. Let's hope so!
I guess this will also be a test of the Mongolian Legal System. I sure hope it's better than the one in Venezuela, where the sideshow never stops. I doubt it could be any worse.:-)
Keep on trucking, and keep the faith.
Cheers
Shirley |
