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Gold/Mining/Energy : Pan American Silver Corp (PAA-T) -- Ignore unavailable to you. Want to Upgrade?

To: Ptaskmaster who wrote (330)	12/16/1999 1:32:00 PM
From: Claude Cormier	Respond to of 358

Ptask, Not sure what will be the outcome on Dukat... But for sure PAA could take over BAY. But I think, CDE may be a better suitor. CDE has $100M in cash and is also operating the Rochester Mine, the only other heap leach silver operation. Rochester is higher cost than Alamo DOrado will be... CDE need it to bring its costs down. Thinking of it... all silver producers with the long term in mind need Alamo Dorado.

To: Ptaskmaster who wrote (330)	1/2/2000 3:56:00 PM
From: Archie Meeties	Respond to of 358

Russian Firm Aims To Develop Major Silver Mine 12:27 Tuesday, December 28, 1999MOSCOW ( Reuters ) - Russian machinery and aircraft builder Kaskol Group plans to win the licence to develop the huge Dukat silver deposit from Canada's Pan American Silver Corp., Kaskol's president said Tuesday.``We believe that the licence ( to develop the mine ) will be put to auction. We intend to participate and to win it,' Sergei Nedoroslev said in a live interview on Ekho Moskvy radio.On November 30, Kaskol won an auction to buy assets in Dukat, a bankrupt silver mine, after submitting the highest bid of $12 million. Nedoroslev said the money had been paid in full last week.But the licence to develop Dukat belongs to Serebro Dukat, 70 percent owned by Pan American Silver with the remaining 30 percent belonging to another Canadian firm, Western Pinnacle Mining Ltd .Serebro Dukat also leases Dukat's assets under an agreement with Dukat's creditors. Pan American said in a statement earlier this month that it had begun to ``agressively defend' its right to develop the Dukat mine.It said it was also examining an option to develop the mine without Dukat's assets, including building a new concentrate mill.Nedoroslev said he doubted Pan American would be able to honor its obligations under the licence agreement, and so would lose the licence, which would then have to be tendered.But Pan American said its mining licence, under which it was required to start production by the end of 2001, contained a clause allowing for delays.According to Pan American estimates, Dukat, situated in Russia's Far Eastern Magadan region, is the third largest known primary silver deposit in the world, with total recoverable reserves of 10.55 million tonnes