ARP - V Argentina Gold Message Board

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Gold/Mining/Energy : ARP - V Argentina Gold

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To: russet who wrote (3272)	4/27/1999 4:53:00 PM
From: tanoose	Read Replies (1) of 3282

NEWSRELEASE; Argentina Gold shareholders vote 99.98% in favour of acquisition by Homestake Argentina Gold Corp ARP Shares issued 36,654,889 Apr 26 close $6.70 Tue 27 Apr 99 News Release Mr. Lukas Lundin reports: Shareholders of Argentina Gold Corp. have approved a resolution to accept Homestake's offer to acquire all of the outstanding shares of Argentina Gold. The transaction will be accounted for as a pooling of interests and under the terms of the arrangement Argentina Gold shareholders will receive 0.545 shares of Homestake common stock for each share of Argentina Gold. Homestake will issue approximately 21 million additional shares, which is equal to about 8.8 per cent of Homestake's currently outstanding shares. Final Canadian regulatory approval is expected by April 29, 1999. Argentina Gold's principal asset is its 60 per cent interest in the Veladero property in northwest Argentina along the El Indio gold belt. The current resource estimate by Argentina Gold indicates that Veladero's three mineralized zones contain at least 5.8 million ounces of gold and 72 million ounces of silver. Jack E. Thompson, chairman and chief executive officer of Homestake commented, "This transaction provides Homestake with a growth profile that fits our strategic goal of increasing the quality of our gold reserves and mineralized material. Veladero is developing into a world-class gold asset that can provide large-scale and low-cost production. Following completion of the transaction, we intend to accelerate the drilling program. Our emphasis in 1999 will be to convert resources to reserves and develop the information necessary to complete a feasibility study. In addition to Veladero, Argentina Gold provides Homestake with ownership in the promising Del Carmen project and the Rio Frio, Santa Rosa and Vicuna Pampa prospects. Argentina Gold's land package encompasses an entire mining district and covers more than 80 per cent of the rich El Indio gold belt in Argentina. We are now positioned to benefit through development of one of the world's emerging gold districts." (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com Congratulations to all who held through?? With regards,Frank

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