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Gold/Mining/Energy : Mongolia Gold Resources
MGR 21.34+0.1%Dec 15 3:59 PM EST
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To: rdww who wrote (2320)6/30/1998 4:13:00 PM
From: Bill Jackson  Read Replies (1) of 4066
 
rdww, When you get into a fight with a group who buy ink by the barrel you cannot win. The papers are in essence free to state whatever they like. They do not, however, change the truth at all. In time the truth at MGR will be fully revealed and I think the Financial Post and the Northern Inquirer could well be wrong. Their hot news is a year out of date so it must be true that in the ordinary newspaper business you look for little green men on slow days to liven things up and in the mining news you throw around a bit of salt.

In essence Webb can do nothing until the impasse with MAC and the potential new investor is resolved. The POG and the share price of MGR make it ludicrous to suggest that the creditors get 100% back on the $1. It looks like any buyer will offer perhaps 20-30 cents on the $, if that and MAC hates that unpalatable truth and so they waffle.
AT this time MGR is a bottom feeder prime stock. Downside is 6 cents US and if gold comes back and MAC goes away it could go to $2-3 US.

So there is no point in heaping crap on Webb his hands are tied by circumstances. What would you suggest? Remember in Mongoland the usual remedies are not there and things will drag and drag as MAC keeps hoping for some kind of angel to save their bacon. MAC should know this will not happen, they have failed to pay their share and now must pay the ultimate market price for that default...loss of what they put in, which was little.

Dave, what did MAC invest in total??

Bill
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