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Gold/Mining/Energy : Pacific Rim Mining V.PFG
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To: Elizabeth Andrews who wrote (13927)10/19/2000 7:29:54 PM
From: Bill Jackson  Read Replies (1) of 14627
 
Elizabeth, As usual you are completely confused.
Luicho is the $25 million.
Diablillos is a silver deposit with some by product gold that PFG will soon own 100% of. It looked to me that Diablillos was an economic silver mine as valus of silver seems to avarage in the 10 ounce per ton area. That is $50-60 and we know it is easily leachable to 70-80%. That is also bulk deposit, not veiny and amenable to large block processes. That is on the order of $100-120 per cubic yard of silver recovered, and there is over 100 million ounces of it, maybe way more than 100 million. In addition there is the gold by product which comes free courtesy of the silver.
I know that unless PFG finds more gold at Luicho than they have to date that PFG will let the option lapse.
The mine will doubtless have a far lower value.
Will the Peruvians deal at a lower price if PFG finds some lesser(but still valuable) gold? Beats me. The Peruvians might dig in their heels and refuse and let PFG walk and then shop the property.

Bill
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