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Gold/Mining/Energy : Pacific Rim Mining V.PFG -- Ignore unavailable to you. Want to Upgrade?

To: russet who wrote (12983)	4/18/2000 2:07:00 PM
From: Quickdraw	Respond to of 14627

russett, I appreciate you comments and you raise some good points. I guess the point I am trying to make is that on March 9, 1999 Newmont was willing to pay over US$60 per oz for ARPs 60% share. Clearly they knew additional ounces were to be found, yet it seems odd that shareholders and ARP management were willing to accept a reduced rate after even more ozs were delineated as you have noted. www2.cdn-news.com Ok, so lets work out your values and I will factor in the gold eq even though it is my understanding silver is typically not part of the calculation used by majors as it is considered as a byproduct and is used as a credit to reduce the bottom line. 60% of 7.3 million oz gold eq = 4.38 million ozs (ARP's share) US $200 million divided by 4.38 million ozs = US $46 per oz which is still above the US$30 per share put forward by charred. Qd