ARP, the company, has no problems working in Argentina. Many of the geologists and employees are natives of that country.
The question is, what has Barrick done to their reputation in Argentina, as well as the rest of South America and Latin America and perhaps the rest of the world by attempting a BS lowball hostile bid, starting at $4.00 after first offering $5.50. No wonder someone resigned and Munk got pulled back to do some PR work. A lot more smoothing over of ruffled feathers is needed in the next year, so Munk and Co. better get busy.
Since the Barrick bid was first introduced, ARP has doubled the resource, especially with high grade, oxide ore in Amable. A two dollar and something company is now worth four dollars and something, and climbing. Maybe Barrick should offer them five or six additional drills and a some workers to run them, free of charge for the next three months as a start to healing some of the wounds. This would be a double win for Barrick, good PR and a chance to prove up more resource for themselves (Barrick still owns 9.9 % of ARP and 40% of Veladero).
russett |
