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Gold/Mining/Energy : Pacific Rim Mining V.PFG
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To: Quickdraw who wrote (12562)2/1/2000 6:38:00 PM
From: charred  Read Replies (2) of 14627
 
I know the history of Arequipa. It was a grass roots discovery on staked ground. Luicho is well known, and not considered grassroots. Nobody pays 25 million US for a grassroots property. Many companies including Barrick knows the property, they will wait for this one. BTW, today is a different market than before.

Metallurgy, Piernia and Yanacocha are high sulphidation systems, Luicho is different. What will be the oxide reserves at Luicho? This play is different than Piernia.

Captial Costs at Luicho will be higher than Piernia, with increase cash costs because of infrastrucutre and the NSR, this will lower the IRR, therefore less for the shareholder.

Simple isn't it.
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