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

To: Claude Cormier who wrote (2454)	1/31/1999 10:18:00 PM
From: marcos	Read Replies (1) \| Respond to of 3282

Claude, how can abx lose on Pierina .... assuming [as per abx releases] - 750mil ozs X [290 - 50 = 240] = $US180mil/annum 900mil ........ acquisition cost 180mil? ....... carrying costs [3 yrs @ 6%] 300mil? ....... development costs _______ 1380mil <------------- 180mil/annum for 20 yrs covers this pretty well, imho And it ignores the current multi-decade low for the PoG, the likelihood of continued expansion of the proven resources on aqp properties, and the fact that they actually sell for 400+/oz If they turn a 'paper loss', it is imho because they play with the paper overmuch.