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

To: Rocky510 who wrote (2412)	1/31/1999 1:34:00 AM
From: easyeric	Read Replies (2) \| Respond to of 3282

Barrick already has 40% of the asset and 51% of ARP gives them control of the other 60%. Why does it matter if they get 100%. Waste of money I think going for the balance of 49%. With control they can load up the expenses to develop the mine onto ARP. Since they have control, they can charge ARP hefty engineering fees which their eng dept requires to develop this mine. The 49% shareholder gets stiffed. Also, the more I think about it, I do not understand why the PP had to be done the way it was. If the reason was time is of the essence, I am confused, it does not take a long time to put this sort of PP together, you don't need a prospectus for an institutional PP. It would all be a lot more believable if a PP was done for 2m shares @5.25 instead of the sale first and then the PP to occur in the future at some unspecified date.