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Gold/Mining/Energy : Mongolia Gold Resources -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (3707)	7/1/1999 7:23:00 AM
From: Bearcatbob	Respond to of 4066

Let us see the payment schedule. Then let us see progress monitored against the schedule. Don't hold your breath waiting. Bob Do you really and honestly think the rest of the business world cares that MGR has been screwed? Perhaps we should see the contract MGR had with MAC before we pass judgement on who got screwed - I think it was us!

To: d:oug who wrote (3707)	7/1/1999 8:13:00 AM
From: Phil Jones	Respond to of 4066

Stay with it, Doug. You're a believer. I really really hope for your sake that MGR pulls through. I put an awful lot of money into MGR, averaging down continuously. At some point you just give up, write it all off. Actually I admire Dave Webb for taking a chance on Mongolia and taking a chance on moving a mill lock, stock and barrel from the United States. It was an innovative idea that could have paid off well, except for two matters: (1) the POG has nose-dived to levels that no one could possibly have foreseen, and (2) MGR was dealing with Mongolian businessmen who were unethical. Dr. Webb's recent post said that his FAXes, letters, e-mails, etc. have gone unanswered. It seems obvious to me that the Mongolian partner has zero intention of paying the rest of its contribution. Anyway, my post wasn't meant in any way to insult Dave Webb but just to set out that I see the Bumbat Mill as a lost cause. End of my posts here.

To: d:oug who wrote (3707)	7/5/1999 11:12:00 AM
From: Dave R. Webb	Read Replies (2) \| Respond to of 4066

Looks like another 96,000 ounces of annual production are in doubt. Williams Resources has placed its Swedish Mine, reported as the largest gold mine in Europe, in to receivership. I suppose with all of this gold production going off line, the price of gold will inevitably fall a bit further. It's kind of like that comment on pricing that where the shopper complained to the storekeeper that his apples were too expensive. The shopper told the storekeeper that apples in the store across the street were half his price. When the storekeeper asked why the shopper didn't buy apples there, the reply was that they didn't have any remaining. The storekeeper responded that when he ran out of apples, he too would mark the price down. The price drops as the supply dwindles and the storekeepers/Central Bankers decrease their reserves. Gold, apples...