some news, page-15

Hi Adequate

i do see your point, i spoke to mgo and they said much the same thing and although mgo do not really need the new amount of capital now they will need it in the relatively short term and accordingly i get the impression that they were put under some pressure by the big boys to raise it now whilst they could get in relatively cheaply (in my opinion)

gorgeous george in particular is not known for his philanthropy in investment (look what he did to the pound back in 92) and he could wield a pretty big stick over mgo's head (i do not hold this attitude against him - it is sensible investment tactics to maximise your own returns whether it impinges on other peoples returns or not, i am just a bit jealous that i don't have the same financial clout)

as i have said before, whilst i am a patient man i am also greedy and i was a bit miffed at what i saw as an overly cheap dilution, however i am satisfied with the response i got from mgo as to the reasons for doing it now and am looking forward to the next couple of years as they transition from junior explorer to decent producer (the last one of this sort of company i had was cnt now cey on london and cee on toronto - the options cost me 3.5c about ten years ago plus 20c to exercise but they are now worth about $3 so my $85k investment is now worth over $1m and in my opinion has plenty more puff in it to come - the profits to the patient & greedy investor in these sort of companies can put a big smile on one's face and i think mgo is going to be one of them)

cheers

t