Pacific Rim Mining V.PFG Message Board

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Gold/Mining/Energy : Pacific Rim Mining V.PFG

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To: JED who wrote (53)	9/27/1996 4:00:00 PM
From: John Fairchild	of 14627

JED, on last check the PFG @ $1.75 asking $1.79. I was not aware that Friday news releases were significant either. I have only been trading for about a year and most of that has been flipping. I get brokerage mail 2 or 3 times a week. Way, way, way too much flipping, but am trying to reform my ways. I am long on PFG and quite frankly I have faith in the rapidly approaching future prospects of this company. Barrick option agreement requires that they spend $10.5 million over a four year period. At the rate they are going and with the additional rumoured two diamond drills on the way I would think that more than half of this money will have been spent by the end of the year. Why would Barrick advance this project while they have so much else on the go? We all draw our own conclusions. How much ore do they think they have to find to make it economic to proceed to production. The rate at which they are working would certainly suggest that they have every intention of taking the property into production. They only have half the assays back on all the steppout holes drilled (or less) and they are already to proceed to the infill holes. Are these guys serious? Without a doubt. Most stocks with big upside potential have lots of downside threat. This is definitely in my books as one of the safer bets. Is is a great deal they signed with Barrick. PFG would have suffered huge dilution to raise the capital for this drilling campaign. Remember Barrick just started drilling in July and look where they are already. Back to share price action. I would have thought that some of the sell off may have something to do with the end of the month thing. Or flippers that need to get some cash for an Indo play. Jerry did seem very pleased with his negotiations on the La Colorada property. He is easy to talk to, Obviously the right personality for negotiations. Good day, Julie and Glenn. John.

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