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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.45

0.0%

Feb 6 9:30 AM EST

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To: d:oug who wrote (3214)	2/24/1999 8:29:00 PM
From: Bearcatbob	Read Replies (1) of 4066

Doug, I have thought about this some more this evening. What I concluded is that if the $125 (?) per ounce figure is correct MGR has one of the best (most profitable) mines in the world. ################################################ Dave W. From MGR Homepage as of this morning: "The total gold production in the first year of operations is projected to be in excess of 43,000 ounces. The average production cost of gold recovered is US$121 per ounce. The overall gold recovery rate is projected at 97%." From news release today: Total Gold for 1997 - 1513 ounces (for a half year). Cost of production - $205 US per ounce. What does MGR estimate/expect to recover in ounces for 1998? I'd like to believe in MGR, but at this point I feel fortunate to be sitting on the outside looking in. ############################################# Wow, what is the market missing? One of the lowest cost mines in the world sits idle over a few hundred K$. I cannot understand howMAC is holding off all thebidders who are dying to get a chance to a piece of this action. Just think, you could pay off Mac and get 51% of one of the best mines in the world. Wow, how has the market missed this situation? All around the world companies struggle with high cost mines. Gee, how stupid. They could close those clunkers and buy out MAC and really get a gold mine. What will it take to have these stupid people wake up to the opportunity lying right there for the taking? I know a little (lot?) sarcastic. However, to believe the cost projections the above has to be true. Personally I doubt it. Bob Bob

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