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

To: walter sharpe who wrote (2919)	12/10/1998 8:54:00 PM
From: d:oug	Read Replies (2) \| Respond to of 4066

Walter, I have been on SI less than a year, on 4 other gold mining threads, and prior to joining SI I had no interaction with the stock market. By chance I saw a business report on CNN about the Bre-X mining scam, and included was an interview with an officer of International Precious Metals Corp (IPMCF Thread), and with the negative fallout, plus maybe other factors, I saw a chance to get in at the bottom. Was 14.00, time of CNN report it was 2.00, and after waiting for it to go below 1.00 (2 months), I started buying. To me the ratio or percentage moves possible under 1.00 are the odds I will accept for a gamble. I didn't look at this as an investment or any thing connected to speculation, buy simply as a gamble. To make money and to save money for paying bills and future needs I am very conservative. All my saving is in Bank CDs, guaranteed each day to loose value (inflation-interest), but also guaranteed that this resulting sum will be there. Easy to predict how much money you have tomorrow and the long term. No guessing or hoping or needing luck. That IPMCF company stock, I brought, in time order: .88, .75, .63, .50, .33, .25, .... I forget rest But anyway, the company is now in Chapter 11 Bankrupty Court. Not because it was a scam, or bad luck or natural disaster, but simply because no officer or representative of the company would exchange information on a regular, at least weekly, basis. So events reported were not as good as the hopefull "hype", and eventho the negative posts on the thread were guesses, they were true as in "don't trust management". Another thread I know of is not doing as good as it "should" because eventho the shareholders on its threader are not employed, they have collectively enough "job skills" that if the company was more forthcoming with events at the site, some very costly (share price) effects would not have happened. So, bottom line for us, MGR shareholders, we have Dave on the thread. To me, a warm fuzzy security blanket type thing. Whats that saying, "famous last words", as tomorrow Dave disappears with all the gold to the planet Mars. Doug