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

To: Mr. Oil who wrote (2904)	2/21/1999 11:32:00 PM
From: tanoose	Read Replies (1) \| Respond to of 3282

Hello Ray; Don't get upset Ray, you seem to have forgotten that i mentioned that Melnyk blew it as well right from the start with the way they did the friendly and then dropped the offer on a hostile?? This could also be why we now see that Munk is back at the helm, although I belive it is only temporary?? The Sutton project is much farther advanced than Argentina Gold's project, there is much more work to be done before this becomes a viable proven resource.......remember now the Belanhanyu will be producing within a year, the feasibility has already been done. 9 million ounces of gold already proven, just waiting for a mine to be built?? Also with Sutton I know there is at least one JV with Anglo American, I think there is two if I recall correctly, now these property's will most likely be sold off to Anglo, as they are nickel and cobalt concessions??..........so in effect the overall costs for purchasing will be reduced, once these concessions are sold?? As for why I feel it will be a great silver mine.....well it rests in the tale of the tape............especially the last drill results?? Although decent, it is the silver contents that are increasing?? What was the estimated resource now that has been bandied about, 6-8 million oz's with silver credits?? Although it is a very good deposit as it stands Ray, no matter how you cut it, the economy of scale still rests with Barrick, and that will only change if Barrick sells off thir shares and gets out of their end of the joint venture?? Simply put, they can wait it out and simply out bid anyone that comes along, and the other majors know this?? And I will remind you again, that I posted that I felt Melnyk blew it big time with the first bid, the Lundin's counter offered, and Barrick should have as well, it would already have been a done deal by now?? The announcement on Friday, was a feel good for the shareholders, and the last PP that ARP did was already the beginning of further dilution?? "There is another way of looking at this Frank. Maybe just maybe Munk blew it for the same reason! What would you have Lundin do. Give away the store for a song. What if there is 20 m oz at Valadero and what if there are several Amable like gold finds with in the ARP land holdings. What would you say of him then. "Stupid fool for selling to ABX so cheaply?" It is always easy to call the play when the goal is scored. You speak as though you know exactly what should have been done. But the game isn't over yet Frank. Don't be too quick to point the finger. Wait a little and see what becomes of the saga." Ray most of this paragraph I feel that you have posted with plenty of emotion............you can't push a stock with emotion?? On Friday the trading changed ever so slightly, finally the pattern of lower highs and lower lows has been abated, it will be interesting to see if it holds, and reverses or was it just a feel good reaction to the announcement?? Well thats enough for to-night..........Oh someone asked if there were any others out there with a good resource trading real cheap?? Yes there is come to think of it, and two come to mind, one being Greystar Res, and the other Farallon. I like them both, the first is real interesting, they have already got the resource up over 5 million oz's, draw back is the location, Columbia, but Kinross likes them and own 20% of the shares?? As for Farallon, there Campo Morado project is proving upwards of 4m oz's, some legal echnicalities holding them down??..............both trade around a buck?? Ray, in the end I believe that ARP shareholders will get more, but not as much as come here have thought or wished they would?? With regards,Frank