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

To: Enigma who wrote (665)	10/27/1998 8:57:00 AM
From: mineman	Read Replies (1) \| Respond to of 3282

ABX knew the results before the release, and gave ARP no money. Do they believe the estimated Filo Federico reserves of 2 mil oz are uneconomic (.7 gr/t on a steep slope with high overburden), and that drilling on all zones to date shows that high grade lenses are erratically distributed and not continuous. ABX have all the ounces they need at Pascua and are carried for 40% in case this thing is large. But they were not prepared to give money to a deposit they believe will most likely turn out to be small tonnage and contained ounces.

To: Enigma who wrote (665)	10/27/1998 11:41:00 AM
From: Elizabeth Andrews	Read Replies (1) \| Respond to of 3282

Of course I haven't seen the share purchase agreement between ARP and Newmont. Maybe it has some perks in there or an RFR of some sort. Of course Barrick would pass as they aren't about to decrease their leverage as they are only interested in an interest in the property not minority equity interests. I hope that Newmont doesn't have more information than what has been released to the public. I guess eyeballing a drill hole without an assay doesn't constitute material information. Maybe Newmont has some new studs there that want to get the old ship rockin' again. I'm sure there's been a lot of snoozing in that board room.