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

To: David R. Schaller who wrote (2084)	1/21/1999 6:24:00 PM
From: robert azana	Read Replies (1) \| Respond to of 3282

With the thousands of juniors, exploring each year, how often does one find a "WORLD CLASS DISCOVERY"!

To: David R. Schaller who wrote (2084)	1/21/1999 8:53:00 PM
From: Enigma	Respond to of 3282

Dave - you may be right - but what I can't figure is why it's trading so near the offering price - only just above it in fact. I have to assume that mining people think the price is about right - at this state of exploration and given the risk assumed by the purchaser and the fact that only 60% of the j/v is available. There is also the fear that Barrick may be right now making a deal with enough big players (possibly including NEM) to circumvent the Lundins. So the deal may be struck not far above the offering place - that's why IMO nobody seems to dare push the boat too far. The small speculator could be burned here - not here exactly but if the price gets too far from the offering bid.. I was lucky because I bought just before the offer and sold at $5.50. I've been trying to convince myself to get back, but I have funds committed elsewhere now - CRJ, CBI, FWR in the junior sector - all of these have terrific upside IMO whereas ARP may have limited upside because I just don't think Barrick see their role here as being the party pumping up the price - they must find a way to strike soon. Having said all of the above, it is a no lose situation with downside risk of 3% plus commission,and upside of whatever. No doubt some of the arbitrageurs are making overtures to Barrick. This is my take on it - I just can't figure why the price isn't higher considering there is a floor bid - something's in the wind and it doesn't look like $10. $6 maybe, but the market isn't telling us that at all., dd