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

To: d:oug who wrote (3853)	10/5/1999 9:31:00 AM
From: Dave R. Webb	Read Replies (2) \| Respond to of 4066

I was asked that same series of questions by other shareholders. The line of questions was basically.... The old MGR shareholders financed the Bumbat Mine. The new TDC shareholders are not financing the Mine. Can't the benefits from the Mine be directed to those that took the risks? The answer was that I couldn't see an easy way to accomplish that except by leaving MGR as it was. At that level, still more money would be required to wok out the settlements and get going again. The old MGR shareholders might have done this through a rights offering, but the exchange would not allow financings below $0.15 per share. The Company is more than one project, and it has a diverse group of shareholders. The Company would hope to move forward on the best projects that will maximize shareholder value. Now it has a choice. The increase in the price of gold may help bring discussions in Mongolia closer together, and maybe we can reach a resolution soon. That should be good for both TDC and MAC as well as the country. No resolution seems to be bad for just about everyone. It looks pretty simple to figure out what direction we'd have to go, and the details really aren't that tough. Dave