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

To: Claude Cormier who wrote (1637)	12/13/1998 1:32:00 PM
From: LABMAN	Read Replies (1) \| Respond to of 3282

Claude, ON the drill results released to date what is your opinion on the estimate of reserves at Veladero, remembering the deposit is open lm

To: Claude Cormier who wrote (1637)	12/13/1998 2:00:00 PM
From: Daytek77	Read Replies (2) \| Respond to of 3282

Claude How can you know that this statement is true? "Agreed! And that is approximately the equivalent of 3.6M ounces of gold eq. and 3M of low grade at Federico..for 6.6M total gold eq.At a very generous $US50 per ounce (given Federico uneconomic grade) you get $330M market cap times 60% is $200M....divide by 38M shares and you get $5.25..." What if there is 12 million oz or 10 or 9? You can't possible know. If there are 12 million oz we are not going to know because Barrick will try to slow down the process. They have a rough idea where the final figure will be. Based on past take-overs it could be double current known reserves or 5 times like Pasqua. Accepting any offer now is not prudent. Let's get some other companies on site and review the data to see what their interpretation is. If this occurs we will see much higher prices IMHO. There is no reason from Argentina's perspective to accept Barrick's offer. You don't know what's there and neither do I and that is what makes a market. Tony