ARP - V Argentina Gold Message Board

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Gold/Mining/Energy : ARP - V Argentina Gold

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To: Daytek77 who wrote (1625)	12/12/1998 10:46:00 PM
From: charred	Read Replies (1) of 3282

Tony, you are incorrect. The reason why Barrick can say cash cost of $50US per ounce of gold is because they already used the silver credit to reduce the overall cash cost. The deposit has 7.2 million ounces of gold it doesn't have the 16 million you say. The deal was not a steal as you say it is. Indeed the Piernia mine is a great mine but overall with costs including the buy out, you're looking at over $200US overall costs. They already invested over $1.5 billion CDN, and just produced their first bar of gold a few weeks ago. Kind of expensive isn't it. I agree that Barrick probably thinks there is more there than ARP thinks. However it's a gamble and drilling will eventually determine the resource. I think ABX will give a $7CDN offer.

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