Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Dave R. Webb who wrote (3852)	10/4/1999 11:17:00 PM
From: d:oug	Read Replies (1) \| Respond to of 4066

Dave, I need to unshackled a thought that has been festering me. First let me say that I fully support the events taken by you to take this company, as MGR, out of harms way from the MAC's decision to wait for MGR to collapse in bankruptcy. <<...that history has shown us that pioneers usually get slaughtered. I took offense to that comment, but can say if we stayed the course, I have a pretty good idea where we'd be right now.>> The 20:1 consolidation was voted as a yes by the MGR shareholders at a time when the price of gold was low and expected to go lower and stay low possibility for a long times, maybe 5 years. Under that black cloud a settlement with MAC and Bumbat most likely would have been an empty win as no money was available to start up a gold mine where cost of production exceeded price of sale. It was only months ago that you as president and the directors had to decide of a way to move MGR into other areas of mineral exploration, and clear to all was that a depressed mining sector presented opportunities if one could demonstrate skill and ambition of present management, along with semi-concrete speculation facts that focus on new or undeveloped areas, that then this company could obtain financing from eith a bank or person or other. It did happen, but MGR needed a 20:1 consolidation so that new money or finance would not be diluted by "old" investment money into the Mongolian Bumbat gold mine. Shareholders voted for this, and it was done. To me the name change was needed since the possibility of obtaining value from the Bumbat gold mine in Mongolia was years off. <<Tyhee ... concept of adopting a ... unique name ... permits us to adopt a more global perspective without any preconceived regional or commodity-based affiliations.>> So new name, no specific metal or country implied. We are now here in the present, all papers signed with all t's crossed and i's dotted, and the ink is dry. But something will come up for discussion, and its not to question what you as president has done, it cannot because the decision was a correct one and this company was lucky that you completed it and delivered MGR into a safe place from a dangerous one. Anyway, eventhought shareholders did vote no for the consolidation, the yes vote won. Now the present with amazingly new day for gold. What if gold did explode to $400 or more, and the Bumbat mine situation was settled, and TDC began receiving a very good cash flow of money (profits), and add to this "best case" that the new money into TDC for the other or new mining also developed into good opportunities, then as follows: the mgr 20 to 1 consolidation into tdc price of gold goes to $500 tdc & mac & bank & courts - mines bumbat for gold tdc has other good investments, but payoff is later tdc obtaining excellent cash flow from bumbat's gold tdc stock raises to high levels just like mgr shares would have .... now the thought those tdc shareholders who never brought tdc but only got tdc thru 20 to 1 consolidation is there any way they can "regain" value * assuming* consolidation never happened and price of gold did explode as is/might and bumbat was mined etc. is there any way to "reach back" and make more "even" ? but again I say, the past decision was the correct one and cry over spilled milk not valid but this "cry" will make its way onto this or new tdc thread so it might be or not better to address now I really do not know Doug