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

To: Dave R. Webb who wrote (1918)	3/25/1998 6:04:00 PM
From: Phil Jones	Read Replies (1) \| Respond to of 4066

Dr. Dave: I agree with David Schaller that if you can get somebody worthwhile as a partner instead of the Mongolian "Deadbeat" you've had so far, then things could really look bright. Only problem that I see is that I believe Mongolian law requires that the 51% owned by the current Deadbeat has to be sold to another Mongolian company. There's obviously no money in that economically-pathetic country, so just who is going to buy the Deadbeat's 51%? Is there any company in Mongolia that has the kind of money needed? I'd make sure that you don't get mixed up with another Deadbeat -- some company ready to sign papers but with few $$ to contribute.

To: Dave R. Webb who wrote (1918)	3/25/1998 9:10:00 PM
From: Bearcatbob	Respond to of 4066

In a previous post! To: dale w ruckle (1827 ) From: Bearcatbob Tuesday, Feb 10 1998 4:44AM EST Reply # of 1922 Dale, We will get a lot of answers when the mill either starts or does not. My personal fear is that they could complete the turnaround and decide that based on the POG they will place the mine and mill on a care and maintenance basis. One could say "why spend the money on the turnaround if that is what happens"? The answer is how much it costs to ultimately complete the turnaround and how much working capital is required to restart and operate until a renewed cash flow is established. If unexpected costs occur I could see this happening. I guess one other thing that bothers me is that the mill did not run very long before it needed an extended turnaround. I do not know how long a grinding circuit can run before requiring an extended shutdown. If this has to happen every six months I do not think we can make our name plate production rate. Bob