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

To: the Chief who wrote (1598)	12/11/1998 5:07:00 PM
From: Enigma	Read Replies (2) \| Respond to of 3282

The cost was $150/ounce at the time - but they figured corrrectly that there was much more there - so on the basis even of what is now known the actual cost per ounce must be very much lower? Not as low i guess as PDG's recent S.A. purchase which I've read was at $8/ounce? E

To: the Chief who wrote (1598)	12/11/1998 5:11:00 PM
From: Claude Cormier	Read Replies (2) \| Respond to of 3282

<<So to grab it at that price considering its cash cost per ounce was a coup! Yes/no?>> I don't feel it is a coup. Buying ounces for US$150, even if they can be produced at $50 is an very good purchase but not a coup. After all, total costs (acquisition + operating +capex - depreciation) will probably be near $225++. The average costs of discovering ounces in North America is more near the $15-$20 per ounce level. Of course, it is much much harder to discover than to simply acquire. CC