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Gold/Mining/Energy : ARP - V Argentina Gold -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (266)	10/10/1998 12:34:00 AM
From: Elizabeth Andrews	Respond to of 3282

You are only kidding yourself. The resource is no where near 2.4 million ozs. Where did you read or hear this bull? Even so at US$30 per ounce the stock is overvalued. Tell me different, okay?

To: Rocket Red who wrote (266)	10/10/1998 9:43:00 PM
From: Neil Irwin	Respond to of 3282

Hi Red, Before you feel too optimistic about the 2.4million oz.of gold, remember that that is gold equivalent. Also, if you check the August 12, 1998 press release ("Argentina Gold: Independent Resource Estimate Exceeds ARP's Estimate and Confirms Large Upside Potential"), you will find the following conclusion: "8. Only a very small amount of metallurgical testwork has been completed to date; the results suggest that silver recovery may be difficult. Much more work is necessary to resolve this concern. " If true, that would knock a good chunk off the recoverable reserves. I concur with the other contributers ... they may have the minerals in the ground, but they might not be able to get their hands on it. As for th eelevation, you might remember that exploration was delayed about a month last year, as they had trouble getting to the site due to snow. Neil.