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

To: Greg or e who wrote (2536)	8/26/1998 5:44:00 PM
From: Farmer	Read Replies (1) \| Respond to of 4066

TO ALL: I spoke with a fellow named Roger today who is an insider with MGR in Vancouver. Never bothered to ask what his title is. Dave is in Mongolia at this time trying to negotiate the Bumbat situation. Told Roger that I was in at $ 1.68 and he said that he had personally bought at 1.50 and 1.00 and in much larger dollar figures.Spoke of the Asia effect, Bre-X etc.. and what they have done to the market. Seemed like a straight forward tell it like it is guy. Said that MGR is in no danger of closing shop, they are putting in their own money at this time. Feels that things will work out for us and spoke of a October time table at the latest before Dave comes back. Regards, Farmer

To: Greg or e who wrote (2536)	8/26/1998 10:17:00 PM
From: Bearcatbob	Read Replies (1) \| Respond to of 4066

Greg, What do you think will happen if MAC sells out? I think the thread thinks that that is the magic event. What I have tried to communicate is that the road back has a lot more to it than the disappearance of MAC. When Dave and company come out and say how much working capital it will take to restart and where that working capital will come from you will have a stock of interest. I submit that it is not unlikely that after MAC sells the mine will still not restart. Look at other small mines (eg Lyon Lake)that have shut down with the current POG so that the companies can preserve their financial resources. I have lost confidence in the published plans of management. Those of you who still hope need to ask what aspects of management performance compared to promise makes you optimistic. Now, if the POG soars and the region stays stable there is a chance. For now - it is my bet that the mine would not restart if MAC sells out. Think about your response for 15 minutes before you call me a "pain in the ass" and draw upon your experience with operating plants and the cost of startup and maintenance in the middle of nowhere. Bob