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Gold/Mining/Energy : Pacific Rim Mining V.PFG
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To: Nexus who wrote (12308)11/16/1999 8:57:00 PM
From: Quickdraw  Read Replies (1) of 14627
 
Nexus,

With the price of gold so low and as yet no drilling on Luicho, it is too early for me to even hazard a guess at a minimum oz figure. Perhaps the 2 million oz breakeven that a few on the thread have mentioned remains as correct. As for my initial posting regarding a 7 million oz target, the verbal interpretation of Cannacords recommendation I received was incorrect.

Again it appears Cannacord, like others know much more information than PFG investor relations is prepared to provide us.

This is their Nov 11 message:

"Briefly, before outlining a few new ideas, we wish to update the
status of a few of our junior top picks.

Our best early stage recommendation remains Pacific Rim Mining (PFG :TSE : $1.70 : Issued 21.6M) which recently acquired the option to earn a 100% interest in the Luicho epithermal gold prospect in Peru. This target is to be drilled late in Q1/00 and is our top pick because the overall size potential is in the multiples of several millions of
ounces of gold and also because of the added credibility of the
management team. We understand that the company has now taken more than 1,300 samples (channel, chip, and grab) from an area roughly 1,500 metres by up to 400 metres wide. To date the average grade of some 500 reported samples is just shy of 2.0 g/t Au with
mineralization hosted in three separate units. We would expect further
sample results by mid-month. This prospect fits almost all of the
criteria we look for in a grassroots target. We maintain our
SPECULATIVE BUY. "

Good investing,

Qd
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