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

To: Gord Bolton who wrote (2773)	2/16/1999 9:41:00 PM
From: Naan	Read Replies (3) \| Respond to of 3282

Approximately 8 mil oz of gold equivilant @ 50.00 net (a reasonable price), = 400 mil market cap x 60% ownership = 240 mil market cap (and growing), ÷ 38.7 million shares = 6.20 per share. Currently selling for 4.15 per share. Don't forget that this is a real deposit folks. It could dip to 3.00 a share (stranger things have happened), but it's still a bargain at these prices. A dry hole or two isn't going to make much difference to the overall outcome of this project. You see it's already going to be a gold mine, we're just waiting to find out how big, and who's going to mine it. Barrick is in the gold production business. They have a huge project nearby. They already own 46% of this deal (40% + 9.9% of 60%). Nobody else is going to bid for this property, it doesn't make sense. Barrick wants it. After the CEO screwed up this deal he was promptly fired. I'm betting that Barrick will try to do a friendly deal soon, before it gets too expensive. I'm also betting that Barrick is buying at these prices. J.A.