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Gold/Mining/Energy : PAAS : Pan American Silver -- Ignore unavailable to you. Want to Upgrade?

To: James M. Belin who wrote (16)	7/6/1999 8:19:00 PM
From: Bill F.	Read Replies (1) \| Respond to of 294

jim -good question.first the mine won't fail due to turmoil.the risk i think you are really worried about is having them take it from us.this is where ifc comes it.this is really a very important point.ifc being an arm of the world bank has never in 30 years had a project taken that all the participants didn't get there money back.in russia's case alienating the world bank and the imf and ifc would be the last thing before a total implosion.i just don't see it happening.also we are in magadan(siberia sort of) this area was just decreed a duty free zone ,so things are changing for the better where the mine is.also the omolon mine has been taking money out for years now and things are going well.lastly the debt becomes non recourse in about 9 months after production start up and a few tests are met.