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

To: Phil Jones who wrote (3284)	3/31/1999 5:16:00 PM
From: Dave R. Webb	Read Replies (1) \| Respond to of 4066

News from Mongolia is dry reading these days...largely no news, or no change. Bumbat is very significant to Mongolia: It represents the countries first hard-rock gold mine, It is one of the largest western investments in the country It stands as a test of their employment, import/export, tax laws etc. Several large companies discuss Bumbat with us....not with a view towards an investment, rather as confirmation of extremely favourable foreign investment laws. What's written on paper is viewed with skepticism, what happens at the bank is what is important. I suspect that although the Trade and Development Bank/MAC issue concerns two Mongolian entities, other these issues among others are being considered. One hopes that Mongolia realizes that time is also an important consideration. A great legal system that takes years to make a decision is about as desirous to foreign investors as the bubonic plague. Hopefully soon... Dave