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

To: d:oug who wrote (2992)	1/10/1999 9:44:00 AM
From: Dave R. Webb	Read Replies (1) \| Respond to of 4066

There are many possibilities in negotiating with MAC, TDB or others. In international work, half the battle is communicating. When someone says yes, you have to wonder do they mean yes they agree, yes they understand, or yes they heard you.... or is yes their equivalent of a verbal burp. There is good support in Mongolia, and from the board of directors. The BOD are the unsung, and generally unpaid support that can advise and direct in these situations. With experience in over two dozen countries and close to a century and a half on their resumes between them, the board has been there and done that. MGR's got very good legal and accounting advisors. International work is difficult at best, but we've managed to put together a pretty amazing team that can come to a consensus on most issues fairly quickly. This is really important when one person has to represent the will and opinion of a larger group (typical in an overseas environment). You can't take your support team with you. We'll have news out as soon as we can. Dave

To: d:oug who wrote (2992)	1/10/1999 9:38:00 PM
From: Phil Jones	Read Replies (2) \| Respond to of 4066

Doug, the point of my earlier post was that, with gold low, MGR has a better negotiating position with MAC/TD Bank, and that secondly, big players like IPJ (which I seem to remember is the largest company from the West involved with gold mining in Mongolia) might turn attention to a play for the Bumbat Mill if gold started rising to decent levels. In other words, as I see it, from its experience, MGR puts high value on getting its hands on the TD Bank's 51% or a part thereof, and this is the best time with low POG to bargain. Conversely, if the POG goes to decent levels, TD Bank might be harder to deal with PLUS there may be other companies (like IPJ) who try and get in on the action. That was my point.