ARP - V Argentina Gold Message Board

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Gold/Mining/Energy : ARP - V Argentina Gold

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To: Syncrude who wrote (2033)	1/20/1999 5:12:00 PM
From: Claude Cormier	Read Replies (2) of 3282

<<Then why the rush on the part of Barrick? >> Why not.... they know what they want to know and they have in Amable what they need to greatly enhance Pascua IRR. <<Almost as important, Argentina seems ready and willing to continue drilling as fast as they can. >> Yes...but where are they drilling...? They went to the border of Federico and in between Federico and Amable. IOW, in zones where the likelyhood of low grade uneconomical ore is high, but high grades large interceptions is low. They may want to show greater number of ounces...to justify their greed <g>. Cause really, $150M for 60% of 2.3M of high grade economical ore is valid offer. The play here is Amable. Cause if gold stays below $300, Federico and all have no value. Me think that if the next set of holes doesn't show anything that substantially enhance Amablke, Barrick will only have to sweaten the current bid by $0.25...and the deal will be done. Over the long term with much higher gold prices, if Barrick gets this, it may well be a big steal. But not now...at least not with what we know. <<What do both Barrick and Argentina see in this property & I gather more than what we know.... >> Hum! If such was the case....I don't understand why Barrick didn't bid $6-$7 right away and close that deal. What is $40M for Barrick. CC

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