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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.38

-0.3%

3:59 PM EST

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To: d:oug who wrote (2912)	12/8/1998 9:27:00 AM
From: Dave R. Webb	Read Replies (3) of 4066

Doug....it isn't simple. Right of first refusal means we have the 60 days to make a decision to match or better the agreement between MAC and the Trade and Development Bank (TD Bank, no relation to Toronto Dominion Bank). The terms disclosed to MGR is full forgiveness of a US$3.0M loan. What isn't disclosed (among other items) is the transaction date (when will the loan be forgiven). As for funding..... For example, if the assumption of the existing loan obligations is acceptable to the TD Bank, then the transaction can be completed with no funds. There are several other options. I guess the previous answers alluded to these options, but didn't give enough information for you to see where the opportunities are. I can't go through all options, nor can I disclose all correspondence. I will step in and try to clear-up misunderstandings. Yes, I see a light at the end of this tunnel. Dave

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