International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: TheBusDriver who wrote (34915)	7/15/1999 11:00:00 PM
From: Chuca Marsh	of 35569

Placer should of helped out with IPM it might seem, rather than trying to Modify a Court Situation: Placer Dome Inc - Las Cristinas gold project suspended Placer Dome Inc PDG Shares issued 250,058,657 1999-07-15 close $14.8 Thursday Jul 15 1999 Mr. Earl Dunlop reports Minera Las Cristinas (Placer Dome 70 per cent, Corporacion Venezolana de Guayana 30 per cent) has decided to suspend construction of the Las Cristinas gold mine in Bolivar State, Venezuela, due to changed gold market conditions and lower prices which have created greater uncertainty about the future. The site will be put on care and maintenance, with expenditures minimized consistent with securing the assets and providing for certain social needs in the surrounding communities. The suspension has deferred capital expenditures of about $500-million (U.S.) and postponed gold production of 530,000 ounces per year. Placer Dome remains confident in the future of Venezuela and in the project. It is Minera's intention to resume construction of the mine when the metal price outlook indicates an appropriate return on the project. The company remains on track with its strategy to build a portfolio of long-term, low-cost gold mines to create value. It is continuing with plans to optimize its recent acquisitions in South Africa and the United States. Year-end proven and probable ore reserves are expected to exceed 60 million ounces. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printin Chucka Oops...Chucaupt2 ( Still- DAMNIT!) Modified Fire Assay- would of saved IPM rather than Court Actions and Mothballing. IMHO. I want IPM wallpaper!

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