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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.76

+0.5%

Nov 6 3:57 PM EST

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To: Phil Jones who wrote (2634)	9/14/1998 6:43:00 PM
From: Dave R. Webb	Read Replies (1) of 4066

Lots of new laws over here, and most of them are untried. There is very little case law to go on. Consequently, what may seem black and white to most people cannot be assumed to end up that way in Mongolia. However, hypothetically speaking, what you have described is apparently what the law says. Life for the bankrupt however does not end there. It is not pretty. MGR has looked at most options and alternatives, and is continuing discussions with MAC and potential partners in good faith. We are not privy to what a creditor bank may be doing though. We do have plan B and C ready. Dave Dave

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