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To: Zardoz who wrote (50148)	3/7/2000 6:18:00 PM
From: Rarebird	Respond to of 116815

Hutch, this is great news for ABX and HM: Homestake Reports a Large Increase in Gold Inventory at Veladero SAN FRANCISCO, March 7 /PRNewswire/ -- Homestake Mining Company (NYSE: HM; Australia: HSM; Toronto: HCX) today reported that the amount of gold contained in mineralized inventory at its 60%-owned Veladero project in northwestern Argentina has reached 7.8 million ounces, a 39% increase over the amount assessed as of December 31, 1999. The amount of silver in mineralized inventory has increased by 47% and reached 147.4 million ounces. The increased amounts of gold and silver are based on the information compiled from a total of 87 additional holes drilled since June 1999 into the Amable and Filo Federico deposits as well as step-out holes drilled north and east of Amable and southeast of Filo Federico. Not included in the inventory, but of particular importance, is mineralization which has been found between the two deposits. This mineralization forms an apparent extension of the earlier discovered Amable Norte zone and its discovery has opened new possibilities for future resource growth at Veladero. (Photo: newscom.com newscom.com ) In-fill drilling within Amable and Filo Federico has also been encouraging. As a result, indicated resources now constitute 86% of the total Veladero mineralized inventory (see tables below), compared to 73% at the end of 1999. This qualitative improvement is expected to facilitate conversion of mineralized inventory to reserve classification when the results of economic studies are received by June 2000. The progress of the ongoing campaign has led Homestake and its joint venture partner, Barrick Gold Corporation (NYSE: ABX - news; Toronto: ABX - news), which owns the remaining 40% of the project, to increase the current $13-million-dollar project budget by $5 million. The increased budget will be allocated towards additional exploration as well as condemnation drilling on potential leach-pad and waste-dump sites. ``We are very encouraged by the excellent results achieved at Veladero in just a few months of drilling,' said Jack E. Thompson, Homestake's Chairman and Chief Executive Officer. ``We have substantially expanded the project's mineral endowment, made significant progress in assessing its metallurgical, hydrological, geotechnical and environmental characteristics, and improved its infrastructure development. One of our objectives is to build a critical mass of low cost production in South America similar to our existing production base in Canada, Australia and the United States. The recent results at Veladero move us closer towards achieving this objective.'

To: Zardoz who wrote (50148)	3/7/2000 6:27:00 PM
From: Ken Benes	Read Replies (2) \| Respond to of 116815

People invest for one reason and one reason only, to make money. In furtherance of that goal, investors choose stocks that are the most likely to provide an adequate return. Your dissertation is nice, unfortunately, when applied to barrick, it does not make the investor money. Balance sheets, reserves, gold play, silver play, these are relative terms and you are playing with semantics, and semantics do not make money. Currently, for a senior producer, nem is a money maker and barrick is a laggard and will continue to be a laggard. My comparison is not between nem and pdg. That is another story. It is between barrick and nem, no contest, nem is currently the clear winner. Investors like companies that take the interests of the shareholder to heart. Barrick is a bankers baby. Ken