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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.45

-0.2%

Dec 18 3:47 PM EST

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To: D. Bryan who wrote (2323)	6/30/1998 6:08:00 PM
From: David R. Schaller	Read Replies (2) of 4066

D. Bryan, There are many reasons for an investment to go south besides incompetent management. i.e. partners who don't live up to their word, metal prices going into the basement etc. I suspect that if we knew all the facts we would find many ingredients in the stew. In the parable of the prodigal son, he found himself in bad straights not only because of his wastefulness but also because of a famine that came into the land. One thing he had control over...the other he didn't. I and Bearcatbob have been expressing our concerns about MGR for 6-9mos. He smartened up and bailed out. Being the slow learner I didn't. The decrease in stock price is beyond my control...hanging in there faced with mounting losses is my own fault. No one else's. As far as I'm concerned the only one whose competence I'm questioning is my own. I don't know how to judge Dr. Daves competence. Share price? Ability to raise funds? Mining knowledge? Contacts in Mongolia? Administration? Determination? Does he surround himself with good people? Decisiveness? Market cap? Respect of others in the field? How is he supposed to answer your question? "Yes, I'm incompetent?" You obviously will not be satisfied with any other reply. Why own stock in a company whose management (in your view) is incompetent? If the management is incompetent and they have no money..that only leaves a shutdown mine and associated properties on which to depend. Not much to hang your hat on. If an investor comes to this conclusion about a company in which he has invested...I think its time to pull the plug. Just my thoughts. No disrespect intended as the frustration level with this investment is very high. Regards, Dave

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