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

To: Bearcatbob who wrote (1936)	3/29/1998 11:37:00 AM
From: Dave R. Webb	Read Replies (3) \| Respond to of 4066

Bearcat, I appreciate your comments, but lets put the POG in perspective. Rounding things a bit, Bumbat produced 1,500 ounces of gold at US$205 per ounce, resulting in an operating profit of about US$150,000. If the POG had been $350 instead of $300, we would have had an additional $75,000 in our accounts. Something, I agree, but not enough to add much to the bottom line. The people that were being trained are laid-off. They may be searching for other opportunities, but the market there is like the market here....kind of short of opportunities. It's tough on these guys, and for their sake as much as MGR shareholders I hope to have a resolution to Bumbat fairly quickly. Dave