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

To: marcos who wrote (2944)	2/23/1999 4:49:00 PM
From: C Bunka	Read Replies (1) \| Respond to of 3282

Thank You Marcos. It's hard to believe this thread was so quiet last June - we were wondering whether anyone at all paid attention. Hard to believe that some of our speculations back then have now come true! Frankly, it was an easy call back then, with the stock trading around $0.50 to $0.90. It has been more difficult now that the stock price is up. I agree with you that it is best if the thread tries to stick to the facts... FWIW, I was at Veladero in December. This area of Argentina is best classified as a high-altitude desert. There is very, very little precip. Drilling on top of the mountain is difficult probably early in May, possibly even in April. ACCESS to Veladero is easy except for the mountain pass that needs to be crossed to access the long valley. One could construct a six-lane superhighway along that valley floor with little trouble: it is only the access to the valley that is difficult. So drilling should continue for another two months from now, or even more. That is plenty of time for ARP's drill results to either kill the take-over potential, or force Barrick's (admittedly strong) hand. Those who use too much logic analyzing this play are missing the point. There is personal animosity between mngmt. at ARP and that at Barrick. There are the day-traders attracted to signs of life in the Junior Resource sector. There are the hypsters and the shorters. Not one of these factors (and there are more) respond whatsoever to a logical examination of the deposit or mine potential. Decorum suggests that I disclose my interest: after selling almost all of my position over $5.00, I am once again long at $3.70. FWIW