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

To: Enigma who wrote (1941)	1/15/1999 11:29:00 AM
From: Claude Cormier	Respond to of 3282

<< The difficulty for a bidder is they know that Barrick is there ready to top a bid - so a bidder has to decide at the outset IMO that they have to be prepared to go against Barrick >> Not only that... But why a potential bidder should bid more than what is already close to be a reasonable offer, and throw in a bid that is base more on hopes than current reality. The reality is 2.3M ounces of high grade 2M+ ounces of low grade. And Argentina has 60% of it. I continue to think that $5.50 ($200M+) was a generous offer and the Lundin should have taken it. $4.00 may be on the low side...but not by far.

To: Enigma who wrote (1941)	1/17/1999 11:42:00 AM
From: Silver Super Bull	Read Replies (1) \| Respond to of 3282

I think the stock shot up to around $5.50 in response to the Lundins rejecting the "private" $5.50 bid from Barrick. Then Barrick rolled out the $4.00 hostile bid. This is why the $4.00 bid makes little sense...because it has always been below market. Why would anyone tender shares at a below market bid? And if Barrick wants the property, which seems obvious, an aggressive above market bid could possibly scare off other potential acquirers. DB