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Gold/Mining/Energy : ARP - V Argentina Gold
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To: Bill Jackson who wrote (2365)1/29/1999 8:45:00 PM
From: Gord Bolton  Read Replies (1) of 3282
 
From what I have seen the ticker has been above Barricks offer at all times since they announced their intentions. I agree that it would be foolish to tender your shares to Barrick when you could get a better price selling at market. Were Barrick buying at market? I don't know.
Can they refuse to buy? I think that they would be obligated to buy any and all shares offered at $5.00 until their offer expires. When the offer expires, that is the end of any obligation.
Barrick wants the property, they want all of the property and they want total control of all the property. They want everything that ARP has.
Barrick has a mountain of gold across the valley and they obviously believe that there may be another one next door that could be even better. The grades are better and the gold is easier to extract in much of the ARP ore. The vast majority of the property has never seen the drill and even the areas that have been drilled off have not been tested at depth. There is a possibility that all of the areas are linked at depth if not on surface. The possibilities are wide open.
Barrick obviously recognized early on that there was enough defined to make the property very attractive to them. Time and more drilling will tell us just how attractive it is. IMO it can only get better.
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