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Gold/Mining/Energy : Pacific Rim Mining V.PFG
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To: randy kay who wrote (4555)5/20/1997 4:17:00 PM
From: E. Charters   of 14627
 
For PFG to hit say $10.00 you have to assume it will find
for itself 2.5 million ounces of gold. Many would say it would
have to find twice that to justify the price but the market
says its ok in CDN dollars these days despite the weak gold
market.

OK. go out and find me that 2.5 million ounces. At .13 ounces per
Ton. That is 20 million tons all their own. Not what Barrick will
find but what Pac Rims share is at 30% of Diablillos and 100% of
Cerro Blanco..

Give me proof that they probably have it. Reasonable extrapolation

Tough job. Even if you give Barrick 4 ore zones at 400 metres by
200 metres and they are all 150 feet thick it doesn't add up..

Lets stick to fact. No fancy putdowns. Show me the ounces with
specific geological reference that can be checked out.

Stuff like Shrake says and Zaunschreb says are fine..but they are
not what you can argue..blue sky above an orebody still needs the
lie detector to follow it up no matter who says it.

A big discount factor here is the time and money to develop..you
need a mill and lots of infrastructure..also sometime you are
out in the Gatineau hills take a look at a hill 400 feet high of
precambrian granite that is one mile long.

Go ahead and jump into an imaginary d12 and start to rip it apart..
without puttin a nuclear power plant on this sucker can you tell me
how long it might take you to reduce this hill to a flat plain..and
how much it will cost? Now that is easy..invert the hill and dig it
out! Now how much will it cost?
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