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

To: d:oug who wrote (3924)	12/1/1999 12:22:00 PM
From: Dave R. Webb	Respond to of 4066

In the junior mining business there are many risks, and one can add value to any property or company by removing risks. Typically in exploration this is done systematically, by using the cheapest technologies first, and moving forward by either advancing or condemning a project. There are risks we cannot easily deal with: the externals (price of commodity, political etc.) and risks we can deal with (technical; size, grade, geometry, recovery, logistics etc.) TDC's Russell Lake Property is an attempt to minimize the risks we can while at the same time maximize the potential rewards. We've been successful in advancing the project according to the financial constraints we have, incrementally reducing or removing the risks of "too small, too remote, hard to find, hard to correlate". The value to the company comes from advancing the property from 1) grassroots exploration, to 2) early development to 3) late development to 4) production. We are past 1 and at 2 now. Additional drillholes might give a preliminary "order of magnitude" tonnage and grade figure on the IG Zone (no ore yet) and discover additional zones that warrant initial development drilling. Dave