Mongolia Gold Resources Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.41

-0.5%

3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: David R. Schaller who wrote (3361)	4/20/1999 8:41:00 AM
From: Dave R. Webb	Read Replies (1) of 4066

Consolidations Companies seek consolidations for many reasons, and David Schaller and Bearcatbob outlined a few of them. They are completed primarily to allow the corporation to raise funds. A change in name is required by Exchange Policy, principally so one old share certificate doesn't get mistaken for a new share certificate. The Company had said previously that no share consolidation was required, as many junior operating companies have > 30 million shares issued and outstanding, and that the Company had considered alternative forms of financing its projects. But circumstances change, and it is a fool that does not change plans as circumstances change. Much of the Company's plans hinged on Bumbat, and the Company is seeking shareholder support of a consolidation in the event that the situation regarding Bumbat not be resolved in a timely or in an acceptable manner. The Mongolian court system is new to the Company, and while we believe that the system works, it is prudent to prepare a contingency plan. It is apparent that the quick decision the Company had been expecting hasn't happen. This does not appear to have any implication on either a positive or negative resolution, but the extensive delay is becoming more than tedious. The "waiting for Godot" alternative is NOT an alternative. The effect of a consolidation, or someone receiving a dollar for ten dimes can evoke negative feelings from shareholders. Others recognize a consolidation as marking a change in direction. The alternative of no consolidation and continued waiting is not acceptable. Shareholders however are encouraged to vote their proxies according to their wishes and conscience. Dave

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next