PAAS - The San Vicente Mine, Potosi Department, Bolivia -
is expanding the mill and mining operations -
In 2007, Pan American expects to continue a small-scale
operation while the Company completes the detailed
engineering required for the construction
of a 600 tonne per day plant located on
the San Vicente property -
panamericansilver.com
Ex. Operating Statistics:
Silver Cash cost per ounce
$3.49
is going to be very profitable operation -
History:
San Vicente was operated by COMIBOL, the Bolivian state
mining company, from 1972 until 1993 when mining was
suspended, pending privatization.
Pan American optioned the San Vicente project from COMIBOL
in 1999 and became operator, advancing the project through
drilling, underground sampling and metallurgical test work.
Mine infrastructure at the site includes a flotation mill,
tailings facility, power and water supplies, and worker
housing.
In late 2001 Pan American and COMIBOL entered into a two-year
toll milling agreement with EMUSA, a well-established Bolivian
mining company, to process up to 250 tonnes per day of
San Vicente's ore at EMUSA's nearby mill.
This arrangement generated sufficient revenue to offset the
property's holding costs and generated valuable information
on the mining and milling characteristics of
San Vicente's ore.
In early 2006, Pan American signed a joint-venture agreement
with EMUSA granting a 40 percent interest in the project.
In mid-2006, Pan American entered into another toll milling
arrangement with EMUSA to continue processing at its
Chilcobija mill.
In 2007, Pan American expects to continue a small-scale
operation while the Company completes the detailed engineering
required for the construction of a 600 tonne per day plant
located on the San Vicente property -
DD....
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