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

To: Mr. Oil who wrote (2389)	1/30/1999 1:05:00 PM
From: mick	Read Replies (1) \| Respond to of 3282

Arequipa and the Lundins in at $ 6.75 Regarding the $ 6.75 question, I was surprised to see that as well. In all likely hood, it must have been after the first $ 5.50 discussion when the reserves were growing, but the full potential was somewhat more in doubt. Now that figure will seem pretty cheap to Barrick. With the success of the Lundins in raising more equity, the only question is how much bigger the reserve is. Lundins say 20 Moz and one threadsters broker suggested 48 Moz. If it is 48 Moz, then the $ 200 quote by Barrick is not out of range. In looking at there map, they have hardly touched the surface of there property. The thing I am wondering about is the old Arequipa bid. To the best of my recollection, the deposit at the initial bid was 7 Moz and Arequipa having some 35 million shares outstanding. I think Barrick came in at $ 27/share and finally settled at $ 30. Do any of you people remeber the particulars ? I am just curious. Anyone have an idea how much it would cost to mine this grade ? I was guestimating $ 15 - 20/ton.