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Gold/Mining/Energy : ARP - V Argentina Gold
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To: easyeric who wrote (2413)1/31/1999 5:04:00 AM
From: Gunnar   of 3282
 
"With control they can load up the expenses to develop the mine onto ARP. Since they have control, they can charge ARP hefty engineering fees which their eng dept requires to develop this mine. The 49% shareholder gets stiffed."

That is true. What is also true is that the same conditions remains for Barrick if they do not get control.

Lundin have on the margin bought some 2 000 000 more shares. Suggesting both Lundin and Barrick knows the present picture of the owners standpoint in this matter, they did that because they thought that they could win the game and make some more money. Cet par, we now find Barrick near the edge in this chicken race. A new knight or a higher bid from Barrick? Who may now benefit the most from waiting? That is always a crucial question. The answer seems obvious after the recent drilling results.

For the moment it seems that Barrick is the one that stands with the risk of getting into a corner as described above.

Regards,
Gunnar
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