* Rivals may top Goldcorp's C$3.6 bln agreed offer -analysts

* Andean reserves could rise 50-70 pct-analysts (Adds closing share price in Sydney)

SYDNEY, Sept 6 (Reuters) - Shares in Andean Resources, thetarget of a C$3.6 billion ($3.5 billion) takeover, jumped atenth in Sydney trading on Monday as talk of bigger goldresources at the Argentina-focused miner raised hopes of higherbid.

Eldorado Gold Corp, which saw its C$3.4 billion all-shareoffer trumped by an agreed deal from Goldcorp on Friday, couldattempt a higher bid, analysts said.

Yamana Gold, and AngloGold Ashanti, which also runs a minein Argentina, were also tipped to be having a close look atAndean.

"There is a good chance more Canadians will go for Andean.The thought is its actual reserves are much higher than provenreserves," said Tom Elliot, managing director at hedge fundMM&E Capital. MM&E takes stakes in M&A situations.

On Friday, Andean, which counts the Cerro Negro Goldproject in the southern province of Santa Cruz in Argentina asits principal asset, agreed with Goldcorp to be taken over.

Analysts said Andean has recently made several significantdiscoveries that have the potential to lift its resource baseby 50 to 70 percent.

"Ultimately, in our view the project could host over 10million ounces, then Goldcorp will have appeared to haveacquired Andean very cheaply," UBS analyst Jo Battershill said.


The deal adds to a series of gold mining acquisitions thisyear including Australia's Newcrest Mining's $8.4 billionpurchase of rival Lihir Gold and Canada's Kinross $7.1 billionstock bid for Red Back Mining.

Near-record prices for the metal are boosting the hunt forreserves and pumping cash into the sector.

Andean shares closed 9.4 percent higher at A$7.0 afterhaving risen as much as 12.3 percent. With Monday's move, theshares have risen more than 40 percent in the last twosessions.

Under the deal agreed with Goldcorp, Andean shareholderswill get cash and shares offer worth C$6.50 a share, comparedwith an all-share bid from Eldorado worth C$6.36 a share.

A transaction is expected to close in late 2010 or early2011 and Andean's project is expected to begin production inlate 2012. ($1=1.039 Canadian Dollar) (Reporting by Narayanan Somasundaram & Sonali Paul; Editing byEd Davies and Lincoln Feast)