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Gold/Mining/Energy : ARP - V Argentina Gold
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To: Abner Hosmer who wrote (1289)11/23/1998 11:25:00 AM
From: Elizabeth Andrews  Read Replies (3) of 3282
 
I was under the impression that Pascua was just an exploration prospect and not a mine at this time. It is a large but low grades sulfide system that may not be economic at current POG. Also, the property's location presents some real logistical problems. It is at an elevation of 4500 meters but people can't work at this elevation. The mill location could be at the 3000 meter level and all the mill feed has to be trucked to a crusher and conveyed to the mill. Expensive, from a capital and operating point of view.

I also thought that Barrick continues to drill the deposit looking for a high grade starter pit, which they have yet to find. I decided to short ARP when Barrick did not participate in the ARP equity financing, which was after the results of Hole 80 were known. My reasoning was that the zone around Hole 80 could have been the starter pit for Pascua and still Barrick wasn't moved.
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