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

To: waldo who wrote (628)	11/5/1998 8:43:00 AM
From: Enigma	Read Replies (1) \| Respond to of 3282

Waldo - are you saying that if they went for ARP, NEM would have ABX custom mill at Pascua? Otherwise they would have a 600-800,00 mill expense (your numbers) of their own PLUS the cost of acquiring ARP, and they would have 60% of the property, vs ABX's 100%. On the other hand Barrick has already spent the mill money, so would only have to spend the takeover money. The mill would have to be expanded, but in effect this cost would be borne by either ABX in capital cost or NEM through milling charges from ABX. Aren't ABX in the driver's seat when it comes to future outlays? Just trying to get a handle on this. Not sure how much we should make of this so called rivalry - they seem to live in reasonable co-existance at Carlin where they have a joint agreement to mine their common ore. E.