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

To: waldo who wrote (648)	10/26/1998 1:27:00 PM
From: Enigma	Read Replies (1) \| Respond to of 3282

Waldo - thanks - I'm new to this one so forgive my ignorance - but can anyone here answer the question as to whether ABX can increase its interest in the project - can't imagine them entering into any deal where they didn't end up with control of a project - they want to be the operator of mines - period - and 40% doesn't do it. So the NEM financing explanation you gave doesn't cut it - can't see ARP wanting to undercut their J/V partner. My reading of it might be that ARP may have an informal deal with NEM to come in on any final deal - so that Barrick or Newmont may finish up as operators. In spite of what you say I think either of these would accept the other as operator. I think you forget that ABX and NEM have a deal in place already to mine the underground extension of Goldstrike on their mutual border - so there are well established working connections between these two companies. In general NEM seems somewhat tortoise-like in comparison to ABX. E