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Gold/Mining/Energy : ARP - V Argentina Gold
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To: easyeric who wrote (2420)2/1/1999 7:36:00 AM
From: Mr. Oil   of 3282
 
>>Why would Lundin sell his own @5.25 and then run the risk of the price going up before he could get his PP done?<<

They have stated that the PP will be done at $5.25. It does not matter what the price of the shares run up to. PPs are done at a fixed price usually representing the price at which it has been trading in resent past. This was a quick out and back in situation. The reasons for doing it this way were probably related to some time constraints for PP which could be waived by Lundin but which could not be waived by institutional investors and perhaps to facilitate some tax planning by Lundin...disposing of some of his holdings now would trigger a partial tax liability in the current year which may offer advantages to having it all become due in a single year.

I note there will be some 'regualar commission' paid on the deal which would lead us to think that this may be a brokered deal on behalf of Lundin. You take it like it comes when it comes in this volume.

>> Seems weird. As they have the most to gain I would think that they would keep their shares and get the PP done sometime this week. Maybe there is a bad drill result coming which will depress the share price, they do the PP at say 4.50 and then go forward?<<

Maybe a bad drill result is coming but as EC has said before. A bad drill result shows where the delineation lines are. They don't necessarily disprove a mine. Having said that I would bet the drill results are quite the opposite. I would expect very good if not spectacular.

Ray!
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