ARP - V Argentina Gold Message Board

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Gold/Mining/Energy : ARP - V Argentina Gold

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To: Claude Cormier who wrote (2531)	2/4/1999 1:30:00 PM
From: russet	Read Replies (2) of 3282

Hi Claude: Pierina is a reasonable example of what I am describing (although I agree they appeared to pay a good price to shareholders at the time) but the geology there, just like at Veladero, suggested low production costs, open to the southeast and in between other profitable mines on the Pierina gold belt suggesting reserves would be increased in time - and they have been increased this year to 7.2 million oz Au and 56 million oz Ag. The costs to mine have been worked down to $50.00 / oz (- $15.00 for the silver) = $35.00 / oz gold. Sounds to me like its worth a more now than it was when Arequipa was purchased. They got Pascua pretty cheap too considering what it has turned into. Veladero IMO will be better than Pascua. The mineralization is changing from sulphides to oxides in the Amable area suggesting cheaper extraction costs and the drilling is suggesting the satellite bodies they have now, are linked together at depth. The volcanics associated with this area roam over 370 km in this belt - Pascua and Veladero are just 2 mineralized areas, with many more to come. The geophysics and geochemistry show surface targets all over 150 hectares of land - only 3 targets have been lightly drilled to date and they have inferred reserves of 5.5 million oz Au and 120 million oz Ag. Only a quarter of the surface targets have seen this preliminary drilling. All targets are open in several directions including depth. Lundin and Barrick have under 50% of the shares so its up to the small shareholders now - you and I. I want more for mine. I agree to disagree on how much. This quote comes from Barricks web site. "Pascua has the potential to become the largest gold and silver mine in South America" Alan Hill Executive VP Development, Barrick. Something to ponder! Time to increase the bid Barrick. russett

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