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Gold/Mining/Energy : Mongolia Gold Resources
MGR 21.18+0.8%Jan 2 9:30 AM EST
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To: Phil Jones who wrote (2701)10/5/1998 7:50:00 PM
From: Dave R. Webb  Read Replies (2) of 4066
 
Phil, you got your message posted a bit quicker than I could get mine.

In answer to the recent events in Mongolia....

There have been nearly 12 nominations for prime minister since the current government resigned in July. The murder of Zorig may polarize, paralyze or prod the people into action.

Demonstrations in Ulaanbaatar are not uncommon. They're usually peaceful, and can accomplish the stated goals. Democracy was obtained in one such demonstration where violence was threatened, but did not occur.

The effect to MGR is hard to quantify now. I don't see any immediate effect on MGR, other than a raised profile for Mongolia for all the wrong reasons. Some of the articles have erroneously tried to suggest friction between the political parties in Mongolia that doesn't exist. One calls the MPRP an anti-reform party. It should be pointed out that the MPRP (often called the ex-communists, as if members of the Democratic coalition are something else?) introduced the first foreign investment laws (which specifically prohibited expropriation of assets), the first minerals laws, and many other pro-reform legislation.

MGR can and has operated in Mongolia under both political parties, and subject to either party abandoning the course that they have both mandated to follow, we will continue to operate in Mongolia.

Dave
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