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Gold/Mining/Energy : Pacific Rim Mining V.PFG -- Ignore unavailable to you. Want to Upgrade?

To: Quickdraw who wrote (12642)	2/14/2000 7:32:00 PM
From: charred	Read Replies (1) \| Respond to of 14627

Hello Quickdraw, thanks for the response. The NSR is important when it comes to a senior company buying out PFG. I guess that is my point. I do see her point about the 25 million. They still have the time to prove the property. Catherine can get the money. The Cofradia deal only had 18 months. However about Yanacocha, Luicho can not be compared to it. Yanacocha like Piernia is a high sulphidation system hosted in Tertiary volcanics. The rocks at Yanacocha can be crushed easily, where at Luicho, the gold is hosted in quartzites. The rock is very hard. This will increase the cash costs per ounce. It will be more than Yanacocha. However there might be some high grade and the low grade may not be economic. Look at Meridan Gold, 3 million ounces at less than $100 per ounce cash cost. Development costs were only 77 million. This could be the case with Luicho. I would take 4 million ounces of high grade over 8 million ounces of low grade. Why, probably better IRR. This play will be interesting to watch over the next few years. Cheers