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Gold/Mining/Energy : ARP - V Argentina Gold
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To: Claude Cormier who wrote (2042)1/20/1999 5:29:00 PM
From: Syncrude  Read Replies (1) of 3282
 
Claude,

I agree that there is not much room on the upside, but still. Barrick lowered their $5.50 private bid to $4.00 and had the gall to go on to say that they raised it from $4.00 to 5.00!

Had they come out an offered $5.50 straight away, we would be looking at a done deal. Instead Barrick is acting in a questionable way, such that people are wondering what else they may be hiding.

With respect to the CURRENT price of gold, you are correct in stating that the resource is well priced. BUT, as you know very well, any production would not come for quite some time yet. Unless you see NO recovery to $320 and beyond, then the resource is not too highly priced.
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