Pacific Rim Mining V.PFG Message Board

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Gold/Mining/Energy : Pacific Rim Mining V.PFG

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To: Shirley Owen who wrote (8933)	3/5/1998 12:15:00 PM
From: Quickdraw	Read Replies (3) of 14627

Hi Shirley, In the interest of speculation, here is another view from one of my speculative crystal balls on how things might line up for the future of PFG. Barrick will make a bid for PFGs 30% of the Diablillos property. Included in the bid will be Fantasma, the Cateo and Cerro Blanco (PFG will ensure it is included as well). This will take place sometime in a May - July timeframe. Barrick will not make a bid for PFG in its entirety. After some negotiation and after all results have been put forward, PFG management will accept a mutually agreed to amount ... this will bring a minimum of $100 million US into the kitty. Commensurate with this the PFG share price will move to the $6-$10 CDN range) At this stage, PFG will have the cash to do what they have been planning for, the takeover of one or more cash strapped companies with premium properties, which are now trading at or below their market value. Additionally, PFG may begin a joint venture with a base metal major for the La Colorada property ... but then again, dependant on their "walk-abouts" they may decide to drill La Colorada on their own as this type of property is the PFG geologists cup of tea. There is a real opportunity out there for a company with a lot of cash and I believe this is what PFG management is positioning themselves for ... it will move them up one notch higher toward becoming a major which has been mentioned in the past as their intent. Of course all this is dependant on Barrick's schedule but I can't see them delaying further than this summer. The size of the deposit will increase dramatically in the NEAR future as discrepancies between RC and DD results become known and as other drill results are added to the existing resource. Mr Shrake himself foresees a 30% to 40% increase from the drilling alone ... not taking into account the discrepancies ... so it would not be wise for Barrick to delay as PFG becomes more costly as further drilling takes place. Include in that, the fact that a thorough feasibility study and plan cost in excess of $1 million and takes at least a year to complete. If this is not done before July 2000 Barrick must fork out an additional $4 million. Just some thoughts I throw out! Rick

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