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

To: marcos who wrote (2451)	1/31/1999 8:50:00 PM
From: tanoose	Respond to of 3282

Hello Marcos; You can say that again, "there are not too many El Indio belts around", one of the reasons why ABX is trying to lock up all of the turf in the area?? I believe they should be paying more as well, I guess we can ponder all we want, but it is the big guys who are going to determine this, not us little guys. We're just here trying to pick up some of the crumbs they leave behind. Hopefully they will be fulfilling crumbs?? With regards,Frank

To: marcos who wrote (2451)	1/31/1999 10:21:00 PM
From: Claude Cormier	Respond to of 3282

<<Pierina is expected to come onstream with cash costs of $50/oz>> True. But that is only for the first 2 years... And they really invested close to $150/ounces in this project... If gold prices stay at current levels they will have a loss on this project... Pierena becomes a legit investment for Barrick only because it allowed them to enter additional forward gold sales that are now paying good money. That is one reason why Barrick is not boosting rapidly its offer. They know that with ARP controlling only 3M ounces so far...their bid make sense... In time they will increase it...but it will never match Arequipa's bid...