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

To: Rocky510 who wrote (1214)	11/12/1998 4:22:00 PM
From: Famularo	Respond to of 3282

Second drill unlikely before January Argentina Gold Corp ARP Shares issued 33,113,389 Nov 11 close $2.26 Thu 12 Nov 98 Street Wire by Brent Mudry Argentina Gold expects to drill at least another six or seven holes on the Amable target at its Veladero project in Argentina's Andes, Lukas Lundin told the company's annual meeting Thursday morning in Vancouver. "It depends on what happens when we go to the east and west," Mr. Lundin told the 85 attendees. The promoter expects to host a trip to the site for Argentina Gold followers in early December. Mr. Lundin also notes the company's burn rate is about $700,000 per month, and the company will be "pretty good" financially to the end of March. "I hope a lot of action happens between now and March," he told the meeting. The drilling season on the property runs from September to May. Mr. Lundin says the company has no plans to activate a second drill rig before January, although he wants to "develop as big a resource as we can as quickly as we can this season." The promoter explains that if Argentina Gold puts a second drill on the property now, the results will come too fast, and they are already fast enough. The company is currently starting drilling on hole 90. Mr. Lundin notes that seven of Newmont Mining's Yanococha geologists have been on the Veladero property for two weeks and will remain on-site for another week. On the stock end, the promoter estimates Argentina Gold's public float is currently about 15 million shares.