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

To: see clearly now who wrote (3198)	2/23/1999 7:00:00 PM
From: Phil Jones	Read Replies (4) \| Respond to of 4066

Arnold, Dave Webb told us over and over, many times over, that costs of producing gold at the Bumbat Mill are US$120/ounce -- so, the cost is in fact well below US$200/ounce. With the POG presently at about US$287, it seems that Dave could re-open the Mill and start producing new gold bars at a healthy profit. Compare the Kemness Mine of Royal Oak in British Columbia. I seem to remember the Globe & Mail saying that its cost of production was something like US$230/ounce. Labour is cheaper in Mongolia, and presumably shipping is cheaper. So, Dave could re-open the Bumbat Mill even if the POG stayed stuck around the present dismal level. It should get interesting if MGR does take over a controlling interest in Bumbat! Phil