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

To: Tony from Niagara who wrote (3041)	3/4/1999 1:21:00 AM
From: Enigma	Read Replies (1) \| Respond to of 3282

<<Since that time the per share value of ARP has been negatively affected by the private placement of 2 million shares at CDN $5.25 per share as the cash receipts from the private placement>> This is a very good point - which passed almost unnoticed - and makes one question the ethics of the Lundin move here - after all if you say $5.50 is not acceptable - for undiluted stock - how do you have the face to turn around and pay $5.25 AND dilute the stock? You wonder if this sort of thing would be permitted on a senior stock exchange? I mentioned it to my broker at the time and he said 'yeah, that's the kind of trick they sometimes pull on Vancouver'. I now see what he may have meant. dd

To: Tony from Niagara who wrote (3041)	3/4/1999 7:14:00 AM
From: Handshake™	Read Replies (1) \| Respond to of 3282

I have been following ARP for quite sometime, and have followed the majors. I have done extensive research into their balance sheets and have tried to put together a "short list" of who could afford to spend 500 million + on a junior (all because of another company that has begun drilling in Chile..that will remain nameless so as not to be spamming). My short list is extremely short now that ABX has bowed out and appears to be tied up for at least 3 - 6 months with its latest acquisition, so the question to the thread is WHO can afford to spend 500 million + on ARP's property or for that matter anyone's???? Thanks, Vince

To: Tony from Niagara who wrote (3041)	3/4/1999 10:43:00 AM
From: goldenbloke	Respond to of 3282

Thanks for the notes Tony. I agree that today's share price is only based on XX$/ounce on the ground at Veladero. That is a real problem for ARP these days, since they can not count on the fact that they do own (100%) of the entire regional play, which is obviously underestimating the potential for more ounces in the region. Don't forget that Barrick took over LAC back in 1993 because mainly of El Indio mines. Now this mine is gone and they found Pascua. This is only reflecting that a key asset here is the regional potential for more orebodies. In these markets, possibly nobody believes in "potential ounces", but it has a lot to do with how this company positioned itself early in Argentina and the outcome of the near future. I think they'll find some partner for the regional area, and they will try to keep Veladero enlarging until they really get a fair price for all of the possible ounces at the project.