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

To: JAS who wrote (791)	10/29/1998 6:35:00 PM
From: Robert	Read Replies (1) \| Respond to of 3282

Is this the calculation. 195 Million tons at 0.13oz/ton gives 25.35Million ounces of gold. At $25 per oz in the ground, this gives $6.3375*10^8. Divide this by 36.8 Million shares and you get $17.22 (US). Don't you think 25 Million ounces is a HUGE extrapolation. Make it 5 Million ounces and you get $3.40 US. 5 Million ounces still seems big. Arequipa was 7 Million oz, but the gold there is getting mined at a cost of $60 an oz, compared to low cost producers which average in at $150 an ounce. I recall Arequipa had a similar number of shares. Factor in that ARP doesn't own this outright (?) and $4-5 Canadian seems more reasonable. Maybe I did the calculation wrong.....It's quite likely. I await the assault to keep me better informed....Maybe Chris B would also like to comment, or E. Charters....Robert