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Gold/Mining/Energy : Mongolia Gold Resources
MGR 21.48+0.5%Dec 26 9:30 AM EST
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To: d:oug who wrote (3518)5/15/1999 1:38:00 PM
From: Phil Jones  Read Replies (2) of 4066
 
Keep your dreams, Doug. I had dreams about MGR once. It seemed to me so very promising. Moving a mill from the U.S. to Mongolia. While the POG was at decent levels, it seemed like a brilliant move to both help an impoverished country and help ourselves. But it depended on the POG. The POG let us down. And when the POG dropped, the Mongolian partner showed its true colours. There is no Rule Of Law in Mongolia, from what I can see. It's dog-eat-dog on dollars-and-cents issues when things get tough. If the POG suddenly jumped up, MAC would be happy to put in its $800K. But the POG isn't jumping up -- and may not for another 10 years. Dave Webb turned over the cards -- and only deuces showed. It's over. A big gamble gone south. You plays your money, and takes your chances! Phil
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