Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Daytek77 who wrote (1641)	12/13/1998 2:25:00 PM
From: Claude Cormier	Respond to of 3282

Tony, At the moment it is true...based on published information. Of course, Amable can still grow.. and that is what we will find out.

To: Daytek77 who wrote (1641)	12/13/1998 3:05:00 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 3282

BTW, On the Pierena acquisition: Based on the work done at the time of the first Barrick bid at $27 for each share of AQP....ABX knew that the odds were extremely strong for the deposit to reach 8M ounces...otherwise they would not have bid $250/ounce. It is for this reason that they hold on their first bid and never went to a lower offer after being rejected once. The second bid was only 11% higher and came after deeper drill holes confirmed what ABX and AQP had tought the first time. The deposit was going to 200m and would contain 8M ounces. On ARP: The fact that Barrick went back to a $4.00 bid after being rebutted at $5.50 tells me that ABX is not convinced at all that they can find enough ounces to justify the higher price...otherwise they would have kept their bid at $5.50 and continue discussion following the next set of results...exactly as they did qith AQP. The $5.50 is justifies only because they own Pascua...otherwise ..it is not....at least for now. We can always get some big surprises...mining is mining...I think ABX knows what they are likely to get...and they think it is worth $4-$5.50 in the current market. Some new favorable results may bring this to $6 and possibly $6.50.. but that would be it...IMVHO. Of course, that is an opinion..time will tell if it comes out near the truth.