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Gold/Mining/Energy : ARP - V Argentina Gold
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To: Claude Cormier who wrote (2520)2/4/1999 8:46:00 AM
From: tanoose  Read Replies (2) of 3282
 
Hello Claude;

An interesting News Release??

Barrick Gold and Newmont Mining agree to Nevada asset exchange

Barrick Gold Corp ABX
Shares issued 376,475,371 Feb 3 close $29.00
Thu 4 Feb 99 News Release
Mr. Paul Melnuk reports
Barrick Gold Corporation and Newmont Mining Corporation have reached an
agreement in principle to a mutually-beneficial asset exchange on the North
Carlin Trend in Nevada.
Both companies will benefit from synergies created by the consolidation of
their overall land positions in the area of Barrick's Goldstrike property
and Newmont's North area and Deep Star operations. Each company is
transferring assets that will generate greater value when developed by the
other company.
This exchange is a win-win situation that gives both companies increased
production and exploration opportunities. It has positive implications for
share value. The transaction extends the level of co-operation between the
companies and opens production opportunities and operating flexibilities
that otherwise could not be realized.
Major highlights:
Barrick receives:
The land corridor currently separating the Betze-Post and Meikle mines on
the Goldstrike property;
The Goldbug deposit, with a reserve of 1,140,000 ounces, which is adjacent
to Barrick's Rodeo deposit on Goldstrike;
Newmont reserves of 860,000 ounces in the Betze-Post open pit;
The Banshee property to the north of Meikle mine.
Newmont receives:
Barrick's portion of the underground Deep Post deposit, a reserve of
approximately 450,000 ounces;
Barrick's 40 per cent interest (1.2 million ounces) in the High Desert
property;
The land corridor between the Deep Post and Deep Star deposits;
Approximately 350,000 ounces contained in stockpiled ore;
Surface rights to certain lands to the south of Barrick's open pit dumps.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

All sides of the equations must be wieghed??

With regards,Frank
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