Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: Cumbrian who wrote (600)	3/27/2000 3:01:00 PM
From: Cumbrian	Read Replies (1) of 48092

I have been following Placer for some time and tend to agree. It looks like a easy double down the road. However this article from the Globe has me wondering if I am too optimistic? What's your take on the likelyhood of this happening and its consequences?? Cumbrian Sorry about that. Too fast on the respond button, forgot to insert the article. Here it is. Cumbrian Globe says Placer partner could suspend Las Cristinas Placer Dome Inc PDG Shares issued 401,030,718 2000-03-22 close $12.6 Thursday Mar 23 2000 The Globe and Mail reports in its Thursday edition that Placer Dome says the Venezuelan government will have the right to take steps to suspend the mining licence on its $576-million (U.S.) Las Cristinas gold project as early as July 15. The Globe's Allan Robinson writes that in its management proxy circular filed this week, Placer says government partner Corporacion Venezolana de Guayana (CVG) can seek to rescind the work contract it has with their joint venture, Minera Las Cristinas, which has the right to explore and mine the property. The work contract allows for the project to be suspended for 12 months, but after that, CVG can "proceed to rescind the contract if no agreement is reached." Work on the project was suspended on July 15, 1999, because of weak gold prices. Placer is reviewing its operations, including reducing the scale of the operation and ways of reducing costs. A spokesman for Placer says the clause allowing for the conclusion of the work contract as standard wording. Placer has invested $119-million (U.S.) in the project.

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