Just for fun, some historical Las Cristinas statements and claims:
3/20/95 Dow Jones (gold approx $380)
?Last week?.Willson said the company was getting ?excellent intersections? from new drilling tests at the
property?
2/06/97 PDG press release (gold approx $340)
Mr. Ynaty said: ?I reiterate my faith that this will be one of the most important mines in the world.?
10/08/98 PDG press release (gold approx $295)
?The recently completed feasibility study update for the Las Cristinas gold project shows substantially
improved economics. Placer Dome?s anticipated cash production cost over the first 10 years is US$ 155/oz.
And the total cost of US$ 240/oz., ??.
1/26/99 CIBC research (gold approx $286)
?Additionally, the Las Cristinas project, which is under construction, also offer long-term growth opportunities.
PDG is estimated to produce 3.2 million ounces this year at a cash cost of $161/oz.?
2/08/99 Dow Jones (gold approx $288)
?Legatt said the delay has nothing to do with the price of gold, the project?s viability or any ownership
uncertainties.?
2/11/99 Business News America (gold approx $287)
?The project was still very robust in the economics even in the current climate of low gold prices,? Leggatt
said , adding that Las Cristinas? cash costs were US$155/oz.
3/26/99 PDG press release (gold approx $280)
JohnWillson, President and Chief Executive Officer, said: ?The development of Las Cristinas is the next step
in Placer Dome?s development of a high-quality asset portfolio to generate superior returns for our shareholders. Las Cristinas, together with the South African joint venture and the pending merger with Getchell Gold Corporation of the United States, will take us into the next century with a secure future as a continuing low-cost producer with very long-life reserves.?
5/02/99 PDG press release (gold approx $280)
??the Las Cristinas gold mine was officially inaugurated in south-eastern Venezuela today in the presence of
Venezuela President Hugo Chavez, Ministers, members of Congress?? The property has proven and probable reserves of 11.7 million ozs. Of gold and is expected to produce? ..average cash cost to Placer Dome of $155/oz. And a total cost of $240/oz.?
2/04/00 PDG press release (gold approx $290)
?According to Placer Dome President Jay Taylor, the gold producers need to rethink their current hedging
policies. ?We believe that gold prices will move higher.??
6/01/00 Bloomberg (gold approx $272)
?Venezuela highest Court reconsiders hearing Crystallex lawsuit for control of Las Cristinas.?
6/14/00 CSJ Venezuela Decision (gold approx $288)
Venezuelan Supreme Court formally admits the legal claims made by Inversora Mael, Crystallex' Venezuelan
unit, in the dispute over the Cristinas 4 & 6 concessions.
6/14/00 PDG press release (gold approx $288)
??it does not believe it is economically viable to restart construction,?.?
?Placer Dome will write off the carrying value of its investment in Las Cristinas, totalling $116 million, and will reclassify the property?s 7.4 million ounces of gold reserves and resources.?
?The Corporation expects to produce approximately 3 million ounces of gold in 2000 at cash and total costs
of $165/oz and $240/oz respectively.? |
