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Gold/Mining/Energy : Pacific Rim Mining V.PFG
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To: Barry Smith who wrote (4833)5/28/1997 4:30:00 AM
From: Bill Jackson   of 14627
 
No Barry, just a level of planning typical of a growing company. Did you know Barrick has around 100 JV's in various stages around the world. If each has a 2 year exploration phase after which 75% are dropped(note PFG already approved) this leaves an annual startup by Barrick of 30-40 new projects, just to keep their upwards path going.!!
New deals are the hallmark of a company on a growth path. If PFG was a one trick cowboy, then work on the Barrick deal, and then sell the company. It is now apparent that the company is on a major fast track. There will doubtless be a deal on Diablillos/Cerro Blanco later this year, perhaps by the fall that will involve only the properties in question. PFG will remain intact and will end up in a very good cash position (and so we all will) The Miranda exploration looks promising, and might develop into a mine. It is of interest to note that Placer Dome was after this property and was edged out by Miranda, who then made a deal with PFG, as we made a better offer than PD??.
Parallel to Barrick is obvious, and will be confirmed if PFG starts to operate a mine in Mexico. The cash flow from the Diablillos/CB deal will allow PFG to be the developer and operator of this mine, if desired.
Barry do not talk yourself out of an opportunity.(snatch defeat from the jaws of victory again?)
Bill
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