Hello Ray;
In regards this recent PP arranged by Argentina, is this an insider PP??
This is a partial quote, the url for the rest of the release follows.
"Adolf H. Lundin agreed to facilitate the financing through the sale of 2,000,000 shares from his
holdings at a price of $5.25 per share to a number of institutional investors. With the proceeds of
such sale, Lundin will be purchasing the private placement. At the conclusion of the financing, Lundin
will continue to hold the same number of shares which he held prior to the financing and will receive
no economic benefit as a result of the transaction. The Company will be paying a standard
commission on the transaction."
biz.yahoo.com
I may be reading this wrong but it appears to me to say that "Lundin will be purchasing the private placement"??
The Lundins are putting money where their mouth is, so it appears??, but they are in a no loss situation, they are very wealthy to begin with, and much of their original paper was much cheaper, and they still hold it??
In one of their other releases or on a post here I read somewhere that they have stated ie ARP that Barrick is close to 50%. I'am just trying to make sense of all this, as this deposit should be going for much more??...................................WHAT IS HOLDING IT DOWN??
Some wish to compare it to Arequipa, which is good, but it was a totally different market we were in at the time. Too many company's were trading far more than what they were reasonalbly worth. It was thought at the time that Barrick over paid for Arequipa, I also felt at the time they did. Which brings me to another thought?? At around the same time after all of the mega deals of that era ie Voisey's Bay, arequipa and a few others, there was some meeting whereby many executives of the big mining company's held a pow wow?? John Wilson of Placer Dome was interviewed around the time and I believe and this is from memory, "that the valuations that these company's were expecting had gotten beyond reason and that we as in collectively would never allow it to happen again" I may be misquoting this, and if I'am wrong I apoligise. I have searched through my records and I have not been able to locate the file. The trading in ARP has had me concerned for quite some time now, it almost appears to be controlled??
Lets face it these guys have been punching out some incredible numbers and the price is locked into a narrow trading range, something does not add up. It's as if the market is quietly giving into Barrick??
Don't construe this as in any way being negative towards ARP, I wish to buy more shares, but there are all of these little details that are adding up to be rather smelly?? We are dealing with Barrick one of the , if not the best landsharks around, and it appears they are eating away at ARP with one little bite at a time?? They wish to purchase all of the shares of ARP, but if they break 50.1% the game changes dramatically, this has to be kept in mind??
Someone else also mentioned the fact that maybe the big boys have an aggreement to let each other be??.....another form of divide and conquer??
These are just some thoughts, maybe over analysis, but they are there none the less??
With regards,Frank |
