ARP - V Argentina Gold Message Board

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Gold/Mining/Energy : ARP - V Argentina Gold

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To: Enigma who wrote (653)	10/26/1998 10:43:00 PM
From: C Bunka	Read Replies (1) of 3282

I'm workin' too much and my head is kind of fuzzy, so feel free to correct my personal brand of logic... But if someone wanted to buy a 10% interest in Veladero through ARP wouldn't it work this way: ARP has roughly 35 million shares out, so 10% is 3.5 million. But ARP only has 60% interest in Veladero... ARP cannot offer to sell the 40% interest it does not have. Buying all 35 million shares of ARP would only get you 60% of Veladero, so you would need to buy 1/6 of ARP to get 10% of Veladero. So someone wanting to buy would need to buy 5.83 million shares, wouldn't they? Correct me if I have missed something. Maybe it is all academic anyway, but if this is correct then Barrick would be in the market for about 6 million shares of ARP.

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