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 (2539)	2/4/1999 11:09:00 PM
From: Mr. Oil	Read Replies (1) of 3282

>>It would be very easy for ABX to raise their bid to $6 and pay an additional $US20M for Veladero... if they are not rushing to do it...it is only for one reason.. for now, they think the odds do not favor a major increase in resources at Veladero from the current level.<< I disagree Claude, Barrick are negotiating in what they believe to be THEIR best interest. To rush any more than they did would give the added impression that ARP is worth much more than $5.00. You can be sure that it is and they would probably pay $10 or more if they have to. But they don't want to. That makes perfect sense from a business point of view. They are now laying low as part of the negotiating strategy. They are making statements of confidence like the following from the Jan 18 ABX NR >>"Barrick is confident that a majority of Argentina Gold shareholders will accept this full and final offer," said Paul D. Melnuk, President and Chief Executive Officer.<< They are confident yet find it necessary to extend the offer date. And from Jan 28 ABX NR >>''We are extremely pleased by the decision of the. B.C. securities regulators to allow the shareholders of Argentina Gold to make their own decision,'' said Paul D. Melnuk, President and Chief Executive Officer.<< They are extremely pleased...read between the lines. They are having near heart failure in hopes of pulling off the greatest legitimate robbery since the Lower Churchill deal between Quebec and Newfoundland. This is all to try and convince ARP shareholders that the $5.00 offer is acceptable and sufficient. Look at this statement from the Jan 28 ABX NR after the BCSC ruled against the ARP rights plan. >>The British Columbia Securities Commission said that the cease trading order was in the public interest. Barrick's bid of Cdn$5.00 per Argentina Gold common share can now proceed.<< It can proceed can it? Well that looks like a ABX wish to me. It can proceed if the ARP shareholders agree...one minor hitch they hope to overcome with such rhetoric. From Jan 28 ARP NR >>The Board of Directors of Argentina Gold strongly recommends that shareholders do not tender their shares. The Company is working diligently to achieve maximum value for shareholders. The ongoing exploration program has returned exceptional results illustrating the upside potential of the Veladero project and its value to shareholders.<< Arp too has been doing their negotiating from the NR they put out. ABX want ARP and they will have it. It is just a matter of time and how much will they have to pay. $200m is a 'stink' bid and they actually are trying to make it 'stick' by the negotiating. I am not fooled. I have seen the same old tricks used in real estate negotiating. The numbers are different but the methods are the same. If the ARP shareholders want the best price for their shares I think they ought to listen very carefully to what the ARP management are saying. They know better what is in the best interest of the shareholders here and given enough time will come up with a much better deal for us all. Take Care! Ray

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