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Gold/Mining/Energy : Mongolia Gold Resources

MGR 20.83

-0.7%

11:05 AM EST

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To: Phil Jones who wrote (2450)	7/25/1998 2:12:00 PM
From: Dave R. Webb	Read Replies (1) of 4066

Phil I don't know when MAC will do something. It is up to MAC and any potential buyer to negotiate what they can. MGR is working to assist in any way it can, but other than clarifying issues, and stepping in when a request for information or data comes our way, there is little we can do. We hope that MAC is working hard to market their interest, as it would be in their best interest to do so. These are funds that would go into their pocket. If I were in MAC's shoes, I would have the most senior person permanently assigned to the task of getting data to interested parties, as quickly and as completely as possible. At the same time, I would be lobbying hard to convince these groups that the project is very valuable. I would not go on holiday, nor leave it to some secretary or junior geologist to respond to questions. That would be quite unprofessional, and a sure way to impair the value of the asset. I would hope that is what MAC is doing. I would suspect that either progress is being made, or it isn't. Either way, a decision should be coming from MAC sometime in the next few weeks. Dave

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