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

To: Bearcatbob who wrote (3028)	1/15/1999 5:30:00 PM
From: Pete Schueler	Read Replies (1) \| Respond to of 4066

Bob I'm not sure that I would want to bail out a deadbeat (or undercapitalized) partner by continuing to operate a profitable business, for sure not in a country where I am the foreigner. I think that cash costs were declining as the mill and its employees gained experience and it was reasonable to expect that they could have achieved $150/oz during 1998 if the mill had stayed in operation. What are your "far more than meets the eye" concerns? Also, cash costs do not include depreciation. Depreciation is part of total cost but cash flow is always calculated before depreciation. Pete