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Gold/Mining/Energy : ARP - V Argentina Gold
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To: charred who wrote (1629)12/13/1998 2:20:00 AM
From: Daytek77  Read Replies (2) of 3282
 
Charred

I stand corrected. I was one decimal place off. The silver would be valued at ~$270 million dollars. Still when combined with the gold it is 2.5 times more than what they paid for Arequipa. This assumes that gold is $300 for the life of the mine (11 years). I read the press release when they completed the Arequipa purchase and it states they were basing their price on 4.1 million oz of gold. That's why some considered them over-paying.

My point is that they got a deal even though they were criticized for paying too much at the time. The Lac story is the same but even better. My assumption here is that Barrick wants to get this deal done quickly because they can see major synergies with their near-by property, they discuss using this deposit as a starter pit, and I believe this is a major deposit that they want very much. If Argentina can initiate a major drill program the price will go up, otherwise there really isn't any reason for Barrick to act now considering the state of the junior gold industry.

Tony
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