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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.51

-0.3%

Nov 14 9:30 AM EST

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To: David R. Schaller who wrote (3376)	4/21/1999 11:24:00 AM
From: Dave R. Webb	Read Replies (2) of 4066

Hind sight is a wonderful filter. It can make mistakes look bigger, successes better, and problems trivial...all being the same situation. Troubles on domestic projects are no less an event than on overseas ventures. It is a fact of life that development of an asset attracts trouble. Usually legal issues as someone tries to get a piece of the pie. Certainly one had to ask what Placer Dome was doing in Venezuala when lawsuites started to appeared. They even shutdown the project preferring to wait for a resolution rather than proceed under a cloud of uncertainty. Fortunately the situation resolved itself (more or less) as PD had predicted, and life goes on. It took quite a while though, and PD found themselves being tried in the media. MGR's assets remain in Mongolia. The Company's claims haven't changed, and penalties continue to accrue to the company at 0.1% per day. Issues between the TDB and MAC do not directly involve MGR, and it might not be the smartest thing in the world to jump into the middle of that. Management can listen to legal advise, seek second opinions, and act accordingly. To do otherwise would be irresponsible. Dave

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