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

To: Michael Bidder who wrote (1888)	1/9/1999 7:42:00 PM
From: C Bunka	Read Replies (1) \| Respond to of 3282

Certainly is a possibility. Barrick could just mothball the whole project. But I don't think they would. Even buying 20 million shares of ARP at $4.00 is an $80m investment that they might like to obtain some sort of return upon. I was on the property about a month ago and saw Barrick's rigs turning just to the North, at Penelope. I counted five rigs just from the one spot where I was standing. I think they would want to find the highest grade starter pits they can, be they at Veladero, Penelope, or Pascua. That would help the economics of Pascua a whole lot. So while Barrick holds the strongest cards, they also have the most to lose - potentially bad economics at Pascua. But you are right - we just don't know what Barrick's intentions are.