Doug,
The company does have a bit of income in that they are renting out a large earth moving machine at $26k per month.
They apparently have some mineral claims but we don't hear squat about sampling done on these. There are two other companies that made forays into Mongolia and into some of the same areas as MGR. One is Java Gold which I believe is at 1 cent or less and does not trade much any more. JVAG got a placer mine going but could not make it pay, but they sure touted their "expertise", fact is they lost it all on that venture. JVAG also has a good number of mineral claims, in Indonesia and Mongolia, many of which are reported to be good prospects, but.........no news. I flipped JVAG a number of times and made enought to really get MGR for free, but that means I just threw back the dollars made on the other. The other company which has mineral claims in Mongolia is International Pursuit. IPJ HAD a lot of working capital but blew nearly all of it in exploring in Kalimantan, Indonesia, call it the "clusters". But, they too appear to be in the wrong country at the wrong time and AU fell into disfavour not to mention the Bre-X fiasco.
Too many of these jr Golds are badly run. It is not all hindsight either Dave Webb. When one does sampling it is prudent to audit the samples, not hindsight, just prudent. The reputations of "honest" jr gold developers can get flushed easily if they are not looking in all directions.....but then, that is supposed to be part of the reason for acquiring higher education isn't it?
Well, Doug, If I am right that the 1:20 consolidation will cause MGR to again have a lot of air under it, then it will fall dramatically or over time and if there is merit, I can postpone my 2 trips and buy back cheaply.
Hope you are not into this one too deep,
Best regards,
Ron E |
