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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.38

0.0%

3:59 PM EST

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To: d:oug who wrote (2900)	12/7/1998 6:18:00 AM
From: Dave R. Webb	Read Replies (2) of 4066

Two points here. 1. Looks like Shirley keeps a pretty tough schedule (5:00AM EST postings) and 2. There are several schedules at play here. First, the 60 days to decide means that MGR has 60 days to say yes or no to matching the terms and conditions of the offer. The transaction may proceed after that if we do not respond. Second, MGR can only move so fast on the 60 day schedule to decide. Then the timing of the funding issue comes to play. MAC did not make it clear to us in their letter what day funds would be advanced (date of transaction). If it is January 2003, its one thing, if its January 1999 its another thing altogether. This is one of the issues MGR is seeking clarification on. Third, MAC has their own time-frame. They have costs and loan payments to meet. One thing is sure. The next few weeks will involve a fair bit of transpacific communication. Dave

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