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

To: Skipper who wrote (1934)	1/14/1999 5:10:00 PM
From: marcos	Read Replies (1) \| Respond to of 3282

"...the Veladero project .... was viable as a stand-alone operation ..." This is the big thing imho - it has to be viable by itself to get competing offers, and without competing offers Barrick won't have to pay much to get it. So I sure hope he's right. ..... cheers, all ........ marcos

To: Skipper who wrote (1934)	1/14/1999 7:33:00 PM
From: Zardoz	Respond to of 3282

Don't know if this was posted yet? Argentina Gold Corp - Argentina appoints adviser; shareholder rights plan adopted Argentina Gold Corp ARP Shares issued 36,654,889 1999-01-13 close $4.88 Thursday Jan 14 1999 Mr. Lukas Lundin reports Argentina Gold has appointed ScotiaMcLeod as its financial adviser to assist the company in considering all alternatives available to Barrick's unacceptable offer with a view to maximizing shareholder value on behalf of all Argentina Gold shareholders. The company has also adopted, subject to receipt of all applicable regulatory approvals, a limited purpose shareholder rights plan which is scheduled to expire on Feb. 19, 1999. The shareholder rights plan is intended to provide the company with a reasonable period of time to consider all alternatives to Barrick's hostile bid which was launched prior to the Christmas and new years holiday season. Loewen, Ondaatje, McCutcheon had been previously retained to provide an opinion relating to the fairness of the Barrick bid and concluded it significantly undervalues Argentina Gold shares and is inadequate from a financial point of view. Loewen, Ondaatje, McCutcheon will continue to assist the company. Lukas Lundin, director, said, "We believe that the Veladero project is worth substantially more than the current Barrick bid. Our consultants, Watts, Griffis and McOuat, have confirmed with us that the Veladero project is viable as a standalone operation and can be operated independently of Barrick's Pascua project. In addition, given the proximity of our project to Pascua, we believe that Barrick would realize significant cost savings in developing the deposit and should be required to share the value of some of those synergies with our shareholders should they wish to acquire the Company." The company recently announced encouraging new drill results which have opened up a new target 600 metres north of the 2.3 million ounce gold resource found at the Amable target and enlarged the high-grade section of the 2.0 million ounce gold resource at Filo Federico. These new results will be incorporated into the inferred resource estimate which currently stands at 4.5 million ounces of gold and 119 million ounces of silver. The results open up the entire eastern flank of the Filo Federico and Cerro Pelado diatreme systems indicating the possibility of continued gold mineralization over a north-south distance of two kilometres. The results also confirmed the possibility of continuity between the two million ounce Filo Federico resource and the 400,000 ounce northwest target resource 500 metres away. With Filo Federico in the north, the Amable North target in the mid-east and the Amable target in the south, the potential of the Veladero project has increased significantly. Mr. Lundin stated, "With the addition of ScotiaMcLeod to lead our advisory team, we are confident that we will be successful in completing a transaction which is in the best interests of our shareholders." (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com