Bill, I agree with what you are saying, but I am just trying to make
the point that the Mongolian courts do not want to hurt MGR or steal
the Bumbat claim and be looked upon as a pariah state.
I just feel that Mongolia is not bluffing in that it will continue to
hold this MAC and Bank matter in limbo as long as MGR puts forth their
position based on the letter of contracts with MAC. MGR is saying to
Mongolia that first you clean up your mess of MAC and the Bank, and then
we MGR who has done no wrong and has been hurt by MAC now require settlement.
To me Mongolia will not blink because it is not bluffing, and will let
this mess go on. At present, with MGR's stand, Mongolia can either
hurt and punish some of its citizens, or its standing as a country.
You wrote:
<< Socialist governments (used to be) are used to bending the law. >>
Let me speculate/guess what MAC is. A group of people were allowed to
enter into a business deal with MGR for the Mongolian Bumbat mine, and
these same persons were able to get a big loan from a big bank while
it was knowned upfront thru MAC and MGR agreements that MAC was not
legally able to secure the loan using its Bumbat connection as backup.
Now all would have been ok if price of gold went to a high value and the
mine started making big money.
So I ask, in this type of country, recently Socialist, and now something
else, most likely those persons who held power before are still with
powerful connection. My guess that the persons of MAC held or were with
strong connections to people in power. How else were they allowed to
make this MAC, that they wanted and expected to be successful.
So, the persons in MAC really wanted to have this Bumbat with MGR become
a source of money riches. Money and Power. The persons of MAC have
power thru past and past connections to people current with power.
No chance in hell that a Canadian company will punish them to the degree
that exist on paper to do. No chance in hell.
Dave Webb can try, and to me all that will happen is MGR will suck in
the current shareholders investment so that Dave Webb can speculate on
another Big Speculation of Riches. Doing this, if successful, will take
years before an payday arrives. By that time all current money thru
current shareholders will be spent, and if no payday, then all lost.
To me, I can either loose thru a 1:20 upfront, and then loose later if
the next speculation does not happen, but first wait years to find out.
Or I can loose in the Bumbat matters with MAC getting off, but I will
get Bumbat up and running with the help from the Mongolian Bank because
it will need its profits to reclaim the MAC loan.
I vote for the Bumbat now so I can see MGR get a payday now with Bumbat.
To hell with a 1:20 because Mongolia will not blink and MGR shares will
reflect a .01 cent a share company. As other posted, without Bumbat
MGR has nothing except Dave Webb's dream of being successful.
Let Mongolia take care of themselves.
Like I said, Mongolia can spin this and be hurt little.
MGR shareholders can loose all investment.
Like I said, I agree with you, but I see a differert approach as being better.
Doug |
