ARP - V Argentina Gold Message Board

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Gold/Mining/Energy : ARP - V Argentina Gold

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To: G.T. who wrote (820)	10/29/1998 9:51:00 PM
From: Elizabeth Andrews	Read Replies (5) of 3282

Let's recount how the news release today contributed to the speculative fever. The reported interval was to 209 meters. <<"The interval reported ends in gold grades of 5 to 6 g/tn.">> This implied that the rest of the hole to a total depth of 348 may have been this high grade. But, true to form, after the close, the company announced that the interval only has grade to 224 meters. What's up with that? The market was expecting more and this is now likely to have a big pullback. Anyhow, I can't see why everyone is jumping up and down as Hole 84 just ain't that good. From 98 meters to 160 meters it runs 1.9 g/tn Au and 22.8 g/tn Ag. From 160 to 224 it runs 3.4 g/tn Au and 21 g/tn Ag. 98 meters is a lot of overburden and the lower interval is only $38 dollar rock. Not enough for an underground operation? And for those doing the tonnage calculations, it is difficult to extrapolate more than 10 million tonnes at this point and within that postulated volume there's only a few intervals that are above 2 g/tn. I think I'll add to the (short) position.

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