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

To: marcos who wrote (2378)	7/3/1998 4:52:00 PM
From: Pete Schueler	Read Replies (2) \| Respond to of 4066

Marcos, Your equipment is nearly new compared to mine. 1952 Massey Harris RC22 and 1964 Oliver 550D used for mowing and light farm work. Bought the Massey for $450 in 67 and the Oliver for $2400 in 75. Finding parts can be challenging but I know the machines and can repair them at home. Yesterday was a new hydraulic hose for the Massey, $16 for parts. Regarding O&M I was looking for the Mongolian currency on Bloomberg but couldn't find it. If its tanked like many others in the region then it seems that the mill might be cheaper to operate in relation to the POG. Maybe Dave can comment on this. Any advantage is welcome. Regards, Pete

To: marcos who wrote (2378)	7/3/1998 8:27:00 PM
From: Bearcatbob	Respond to of 4066

Marcos, I recently had an opportunity to visit a plant I helped to start up 20 years ago. Much of the equipment was the same I left. We spent 9 months in startup and the initial economics were terrible - lots of operating capital was sucked up. So, yes, well maintained equipment can sing for a long time - and plant startups can be very expensive. We tore up a compressor - big bucks and big delay. What do you think would happen if a gear broke? So, how well do you think the Mongo mill is being maintained. Are the Mongol Pinkertons on the job - or is it a source of light bulbs for the natives. Also, where will the management and operating staff come from.. I guess the mine manager is no longer around. Have we been paying this staff for all these months to stay on the side lines. If not, how long will it take to train a new crew. A few good screw ups by plant rookies ought to be the price of a long shutdonw. Marcos, if I get the time I will go back and see what the total production was over the short time that wore out the residual value of the liners. My opinion is that there is far more to that story - but who cares.