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

To: tanoose who wrote (2733)	2/14/1999 1:49:00 PM
From: russet	Read Replies (1) \| Respond to of 3282

Hi Frank: Nice sunny Sunday here. Time will tell who the bandit was. My bet is the Veladero resource will triple, and more will be found on ARP landholdings in the area. Such landholdings now will likely be quickly spun off from Veladero in the near future. ARP will likely put some defensive implements in place (poisons pills) to give them more time to plan in the event of a future hostile bid (which I think unlikely now). Barrick woke up a somewhat sleepy company. I, unlike you, don't see growth in share price, coming only from a competitive bid. I like the geology and think that is enough for future share growth. Politics will play a role too, and Argentina wants development for itself, not just Chile. I think the current ownership structure is fine too. I own shares of Barrick and ARP. As far as another company coming in to bid. That will take some time. The evaluation departments of the big companies are looking at many companies now. My buddies who work in such departments have an unusually long and growing list of companies they "can't comment on". Naturally they are most interested in the best deals in the "already developed and cheap to operate" class first, and work down to the still proving up category later. ARP will climb through this list as time goes by, but my hopes are still with a Barrick-Arp deal in the future in which everyone wins. russett