Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: tanoose who wrote (2477)	2/1/1999 7:16:00 PM
From: Dev	Read Replies (1) \| Respond to of 3282

It's official there is a 2nd Bid for ARP shares. I hereby agree to purchase all the outstanding shares of ARP at a price of $4.00 CAN per share. This offer open for acceptance up and to Feb. 20, 1999. Subject to the approval of my banker of course. LOL

To: tanoose who wrote (2477)	2/1/1999 7:22:00 PM
From: Mr. Oil	Respond to of 3282

>>You can compare all you want, to the other property's etc and how big the deposit is, without a competing serious bid, I believe Barrick is going to walk off with a very great deposit for a song?? A competing bid is what is needed??..............the lack of a competing bid is telling me thus far at least, that the economy of scale is in Barricks hand, and that is the way the other company's must see it?? << Frank, the absence of a competing bid at this juncture does not necessarily mean that... 1. Barrick will get the deposit for a song nor 2. there won't be a competing bid when more of the resource is proven. I would like to think, maybe I am naive, but even if there is only one bid to purchase ARP, that ARP shareholders must still decide to sell and tender their shares. If the deposit is thought to be worth much more than the ABX offer, then it is my opinion that ARP shareholders will say no...not at this price and refuse to tender. Then if ABX wants it they will have to convince ARP shareholders that their offer is fair or they themselves will be convinced by drill results that in fact it is not fair and subsequently increase their offer to an acceptable amount. Your point is well taken however that without a competing bid ARP shareholders will likely cave in to the buyout at a price less than it is really worth. It is my hope that the resource is sufficiently rich as to give other bidders the fever of desire to have it no matter what Barricks strength. Remember they can make an offer with a competition clause which pays them handsomely if they are finally out bid by Barrick. In fact I would say the Lundins are using this to solicit a competing bid right now. You know what they say, It aint over til the 'fleshly endowed' lady sings.(I hope this is politically acceptable). At this point the Lundins don't seem to indicate that she is even close to the warm up cords. I would hang on for the last chapter!!! Ray

To: tanoose who wrote (2477)	2/1/1999 7:53:00 PM
From: james flannigan	Read Replies (1) \| Respond to of 3282

Hi Frank,I think you could be right with no other bid at this point.I think it would be hard for a competing bid due to the fact that Barrick holds 40%,it makes a rival bid less likely though not impossible.But Barrick aproved 8000m of drilling in 99.We can reasonably assume that this will increase the over all value of the property,for both parties.ABX books will carry the new value in their reserves.Imagine how ABX will look adding reserve value to there balance sheet,while denying that same value to ARP.While ABX are robber barons,their past dealings show them to be fair when they buy a small JR.The low ball offers to date are part of the on going give and take process early in the game.If they were planning to walk,why did they extend the offer twice? Simple,they did'nt get the shares the needed.How are they going to get the shares,well mine are for sale at the right price.If they don't want my shares,I would be quite happy to hold them as long as the drill is turning.That is the reason we invest in these exploration plays to begin with. P.S. nice chatting with you, have a good evening.