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

To: Bat Man who wrote (2655)	2/9/1999 9:26:00 AM
From: Enigma	Read Replies (1) \| Respond to of 3282

Reuters: (REUTERS) Barrick bid for rival Argentina Gold fails Barrick bid for rival Argentina Gold fails TORONTO, Feb 9 (Reuters) - Canada's Barrick Gold Corp. <ABX.TO> said on Tuesday it had allowed its takeover bid for rival gold miner Argentina Gold Corp. <ARP.V> to expire after failing to convince enough shareholders to accept the deal. Toronto-based Barrick had offered C$5.00 a share, or C$160-million, for control of Vancouver-based Argentina Gold and its prized Veladero gold mine in northwestern Argentina. Barrick, North America's second-largest gold producer, recently extended the offer in the hope of convincing enough Argentina Gold shareholders to tender their shares. That offer expired last night. "It had a value to us which we were prepared to pay a reasonable price. We made a final offer and the offer has now expired," Barrick Chief Operating Officer John Carrington said in a conference call. Barrick owns 9.9 percent of Argentina Gold and 40 percent of Veladero. The company, which operates the Pascua gold property six kilometres (3.8 miles) from Veladero, was keen to fold the property into its growing operations in the remote Andean mountain range on the Chilean-Argentine border. ($1=$1.49 Canadian) ((Paul Simao, Reuters Toronto Bureau (416) 941-8104) or email: toronto.newsroom@reuters.com)) REUTERS * end of story *