Pacific Rim Mining V.PFG Message Board

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

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To: Quickdraw who wrote (12982)	4/18/2000 1:17:00 PM
From: russet	Read Replies (1) of 14627

RE: ARP As of Apr 12/99, inferred and indicated resource at Veladero project was 5.845 million ounces of AU and 72.24 million ounces of Ag using a .75 g/t gold cutoff (about 7.3 million ounces AU equiv). It was not too much of a stretch at that time, for Homestake to infer from the geophysics and geochemistry, that the number of targets still to be drilled and further drilling to extend existing targets could easily double the resource. They are more than half way there in the first season. Last season Homestake conceived plans for the whole project and had to redo them because after test drilling the proposed positions of the leach pads, and waste rock depository they found additional ore. What a problem to have (gggggggggg). ARP also had an extensive land package with many other targets yet to be tested. The above stuff is just for the Veladero project. I guess the question is, based on the information Homestake had, what did they think they were paying per equivalent oz AU. I'd bet under US$30, and they were paying in shares not cash.

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