ARP - V Argentina Gold Message Board

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Gold/Mining/Energy : ARP - V Argentina Gold

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To: james flannigan who wrote (2483)	2/1/1999 8:04:00 PM
From: Mr. Oil	Read Replies (2) of 3282

Looking at the ARP web site today I read that the estimated reserves are 4.5 m oz au and 119 m oz ag. Does anyone have a rough estimate on the gold equivilent of ag for 119 m oz. With Gold at aprox 285/oz and silver at 5.70/ oz I calculate 119 m oz to be aproximately 2.4 m oz gold equivilent. This would indicate that ARP has proven a total of 6.9 m oz gold equivilent. At $50/ oz this puts an aproximate value of ARP at about $9.00 using 35 m shares outstanding. This wouldn't account for any future reserves yet unproven which may in fact quadruple these numbers. Can I have your comments on this laymans evaluation? Sky does seem rather blue to me! Ray

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