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: Phil Jones who wrote (3913)	11/19/1999 5:11:00 AM
From: d:oug	Respond to of 4066

Phil, men and machines are the easy part for the mining industry, its the know-how technical expertise supplied by Dave Webb, and those on his team, that Mongolia does not have a supply of in country. Cost of man power and machinery to start up Bumbat is spent everyday by those who control and run that country for their own personal high living privileged life style. Sad but true most everwhere, but in a country like Mongolia you can see a high ranking government official display his or her concern that too many Mongolian citizens in the big cities live in poverty and needed is a way to uplift them thru moderization. Sounds good, and then after hoping foreign money enters the country they return to their homes and eat and live the high life while what one of these persons spends per day on food could feed a hundred homeless persons with low cost basic food supplies. Just the way it is everywhere in all nations that those high government people will not allow the initial wealth of the country to escape their own personal use. The country Mongolia can easily reopen the Bumbat mine without any hardship to the people of that country, and the wealth obtained would be great in return. But no, those in control "suck" for themselves 95% of the countries wealth for their own personal life style and hiden secret bank accounts outside the country for their later use. Just the way it is everywhere. So if gold goes up, the ability to restart Bumbat will be taken care of by the country Mongolia, but expect them to claim poverty and ask TDC to help out with a loan .... Doug

To: Phil Jones who wrote (3913)	11/19/1999 11:25:00 AM
From: Dave R. Webb	Read Replies (1) \| Respond to of 4066

Phil You appear to be concerned about the status of the equipment at the Bumbat, and believe that two years of no use will cause them to rust, rot or fad away. Not so. I don't expect everything to be in perfect condition, but it wasn't that way when we left it. The equipment had previously been stored on the top of a mountain in Colorado for 10 years. The mill equipment is in a building, and had been fully prepared for a shut-down. Most of the high value equipment consists of large, cast iron frames or support structures with removable wear plates (Crushers Grinding Mills etc.). They are designed to last decades in dusty and or wet conditions crushing or grinding rock. Sitting inside a building for 2 or 3 years isn't too hard on it. The electrical systems at the mine were selected for their simplicity and robustness. For the most part it consists of simple switch gear and cables, typical of mines around the world. A few years does not materially change them or make them less effective. The mobile equipment was out on lease this past summer, has been returned and is in Bumbat's possession. The mine and mill needed financing to complete a routine relining of a ball mill at shutdown. That hasn't changed. The Company will announce any significant changes as they become aware of them. Dave