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

To: Naan who wrote (2782)	2/17/1999 1:27:00 PM
From: Syncrude	Respond to of 3282

Naan, You are very aggressive (not at all conservative) with your use of $50USD to assign to RESOURCES. Much more drilling needs to be done before the word reserve can be used, THEN maybe an amount close to $50USD can apply to that portion of the resource which can be classified as minable reserve. As it keeps on drilling ARP is bound to hit a disappointing hole. It is like a game of Russian roulette, only ABX has said it is not playing right now. No other bidders have yet surfaced and there is a risk that events may occur only next year.

To: Naan who wrote (2782)	2/17/1999 1:33:00 PM
From: Enigma	Respond to of 3282

Naan - I thought that you were using the $50/ounce figure as the value of gold in the ground, in striking a value of ARP? This is very different from using a production cost of $50/ounce - because the value in the ground refers to the discounted present value of future profits. $50 seems to be at the high end of the range., especially with this low gold price. A cost of production of $50/ounce is in itself very very low. dd

To: Naan who wrote (2782)	2/17/1999 8:54:00 PM
From: Douglas	Respond to of 3282

Naan,I don't mean to be disrespectful but right now the market is paying between US$5 and 10 per ounce for resources not US$50 like you suggest.I think this statement is quite misleading especially to anyone with a little less knowledge of the mining industry.Don't mistaken resources with reserves. I hear these mumblings about 20 million oz.'s and really don't think the one's who are making these statements realize the extent of drilling that has to happen before that can be proven.This property may be real but it would be irresponsible for the Lundins or anyone else to be making those kind of statements at this early stage.Don't forget what the Lundin's do best....Promote,Promote,Promote. The other thing that kind of bothers me is that some of the poster's on this thread assume Barrick is completely consumed with Arp and spends all their day devising takeover schemes. We have to come to grips with reality,expectations are way too high for this type of market.I think we are going to see a considerably lower stock price in the coming weeks regardless of what the Lundin's say especially if POG stays in the tank. Douglas