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

To: Mr. Oil who wrote (2223)	1/26/1999 11:17:00 PM
From: C Bunka	Read Replies (3) \| Respond to of 3282

Well said. And I happen to agree with most of your analysis of the situation. The truth of this is that ARP and ABX despise one another. ARP management would likely say "no" to nearly any proposal received from ABX. I think that what ARP really wants is to sell the Veladero property only but hang on to much of the rest of their huge land position. Review some of the news releases and conference calls and you keep seeing things like "ARP has assembled a great team". This tells me that they want to keep working. How better to do this than to fill the treasury and then be able to use all that firepower to explore addition areas of the Argentina El Indio belt? After all, if you were the Lundin's and you owned, say, 5 million shares of ARP, is there really THAT big a difference between a $25 million payout and a $30 million payout? I don't think so. I think ARP management wants to remain in business and thus receive the benefits of some form of buyout yet still maintain the potential for further gains in simialr projects. There just is not an awful lot of real estate anywhere in the world as prospective as ARP's. If Barrick had a brain it would offer the equivalent of $5.50 per share to ARP NOT to take over the company, but instead to lock up 100% of Veladero. Everyone saves face and everyone gets what they really want. I applaud ARP management for trying to fend off Barrick. All of the above is my opinion only. I have sold a lot of my position north of $5.00 for the sake of prudence (I never sold anything all the way up) but am still long the stock.

To: Mr. Oil who wrote (2223)	2/19/1999 9:03:00 AM
From: John BOYCE	Read Replies (1) \| Respond to of 3282

Great posting Ray,after reading Barrick paying $525 million for Sutton (89% premium ), leaves me shaking my head. The site contains an estimated 8.8 milion oz, in a relatively unstable country, and to me Barrick's price in mind boggling. It was interesting to read that Vince Borg of Barrick noted that they had the money to do both the Sutton and ARP deals if they had wanted. ARP is hoping to have an updated estimate of reserves put out today I believe, so should be interesting. The only thing I can think of is their must have been so much anamosity between the two sides that the deal never went through, but hopefully, after a cooling off period and in light of the Sutton deal, something can be worked out. Take care John B.