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Gold/Mining/Energy : Mongolia Gold Resources
MGR 21.53-0.6%3:16 PM EDT
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To: d:oug who wrote (2933)12/13/1998 12:15:00 PM
From: Dave R. Webb  Read Replies (3) of 4066
 
Barrick, Placer Dome, and Newmont are some of the largest North American gold-only (or gold predominantly) mining companies. They have global presence and are fully integrated exploration, mining, and marketing companies. Barrick and Placer Dome had (or still have) a large horde of cash, whereas Newmont was still trying to digest Santa Fe Gold.

When I said that I'd like some too I was referring to gold production. Small isn't the issue. There was once a small company called American Barrick Resources Ltd. which in 1981 had a small contract-mined operation in Wawa Ontario called Renabi. No large company would have considered such a marginal operation. Fast forward a few years, and even Barrick wouldn't consider such a small operation. What I'm saying is even the giants started small. Barrick's move came when the team Munk assembled recognized potential where others didn't. It was an inspired, geologically-derived theory that was not well supported by the establishment at the time. Not only did Barrick grow from this theory about gold in Nevada, so too did Franco Nevada.

By turning Bumbat on as a source of cash flow, MGR can look to expand where reasoned thought suggests that there may be opportunity.

Dave
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