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

To: Joe Cool who wrote (2342)	1/29/1999 3:24:00 PM
From: E. Charters	Read Replies (1) \| Respond to of 3282

Question 1. How close is ABX to getting 50.1% of ARP. # they don't want you to know. Question 2. Who are the major shareholders of ARP. # the Lundins of Lundin Oil. Father and son. Question 3. How does a ARP shareholder tender shares to ABX? Does ABX just by the shares on the open market? # you could be that foolish if you wish. Question 4. If ABX succeeds, what happens to those of us who still have shares? # you die with them. they will bleed the company and you will profiteth not. Question 5. If ARP has so much potential, why hasn't there been other bidders? Could ABX turn there interest toward another junior like TVX gold. # Nobody has 400 million to buy the company. It is Argentina and Barrick has 40% of the property participatory and 10% of the company.. But this is good, because it reduces the amount of money you have to spend to earn by 40%. Then you get to bleed Barrick. So Newmont will step in eventually if Barrick fails and get the company for cheap too.! Thanks

To: Joe Cool who wrote (2342)	1/29/1999 3:41:00 PM
From: mick	Respond to of 3282

Regarding Questions ABX is probably not sure. It is clear from the extension that they are probably far away and from the current price, they are getting farther away. The major shareholders that I know of are Barrick - 10 %, Newmont - 7 %, and I think the Lundin(sp?) family has 15 %. It would be interesting to know the rest. TD asset management holds about 10 %, but this maybe with a lot of individual investors. There appears to be no one large holder. ABX will buy on open market and you can tender directly through your broker. Don't do this until ABX gives a realistic offer (nothing under $ 25). If ABX succeeds, they will likely extend the offer to all shareholders. Being a junior position, you get no say in how the propety is handled. They could sit on it for a couple of years or more. The value would still be there, they would try to squeeze you out IMO. The lack of interest is some uncertainty in the full property potential (i.e. its 5 Moz, but is is 20 Moz+ - more drilling required). Barrick also holds 40 % of the property outside of ARP so most view it as there property. I also believe that the companies are acting in collusion. They don't want to start bidding wars.