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

To: Pete Schueler who wrote (3286)	4/1/1999 11:13:00 AM
From: Dave R. Webb	Respond to of 4066

Pete, I have no doubt that our comments are monitored, the feedback I get from time to time tells me that. I also have no doubt that Mongolia is experiencing first hand the effects of their policies, both explicit and implicit, on exploration and development in their country. When the mining law was first introduced after the 1995 Conference on Direct Foreign Investment in Ulaanbaatar, the hotels were packed, and exploration licenses were extremely hot commodities. Recent tinkering with the laws, and subsequent proposed and recently passed legislation has not been received quite as warmly. These views were expressed to the Mongolian Government in early March, and their acceptance of these comments, and announcement that they would form working groups to assist in effecting changes is considered a positive step. I hope they follow through. It would not be hard to recommend some changes that would lead to a doubling in mineral exploration within 18 months. We'll see what we can do. But nothing speaks louder than actions, and we are not alone on this thread watching to see what happens, and how long it takes to happen. Dave