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

To: Phil Jones who wrote (2783)	11/10/1998 9:09:00 AM
From: Dave R. Webb	Read Replies (1) \| Respond to of 4066

There is little change with MAC. They have been soliciting interest in Bumbat, and the firms that previously expressed interest have reiterated that interest. It would appear that MAC is trying to get a better bid for their interest. MGR has put out two releases pertaining to other properties in the past 2 months. In particular, we have made great strides with the Terra Silver properties in the Camsell River Mining DIstrict, NWT Canada. Doug may view this as preparing an alternative launch site. MGR has faith in Mongolia, and its assets. We are concerned about our partner and viewed their announced sale as a positive change. It would however be imprudent not to diversify our opportunities by country and commodity. Terra does this for us in an exceptional manner. It consists of three past producing, high-grade silver mines. Some orebodies exceeded 200 ounces of silver per ton. Over 15.5 million ounces have been extracted from this camp. Dave