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

To: charred who wrote (13033)	4/26/2000 9:30:00 AM
From: Quickdraw	Read Replies (1) \| Respond to of 14627

charred, You've completely missed my point. Please let me spell it out for you. Essentially it is this simple. In this post Message 13484690 you make the following comment: That's fine, lets wait for the feasibility study to tell us. We'll see that in 2 to 3 years. Meantime, PFG has to raise more money to bring the property to that level. Senior companies will be waiting to see these studies before looking at acquiring PFG. You appear to be saying that Luicho must be brought to feasibility stage before any senior would contemplate making an offer which in your estimation will take 2-3 years. My post Message 13493741 provides for example purposes that an offer was made for Argentina Gold by Barrick one month after Martinez' comments and well before any pre-feasibility or feasibility study were performed. My point here is that not all properties must be brought to feasibility before an offer comes in. Additionally I note in my earlier post, that it took 5 years for Argentina Gold to drill 17,000 meters at a depth of 250 to 300 meters. PFG optioned the Luicho property on Nov 25, 1999 and will begin drilling in late May/early June and are expected to have a minimum of 12,000 meters of drilling completed within approximately 2 months, afterwhich a diamond drill will be added to the complement. As of today, there remain 7 months (5 months have passed since optioning the property) before PFG must ante up the next $US400,000 property payment. In this 7 months, much can be determined regarding metallurgy and further drilling can and will occur It seems clear that PFG at the end of one year will be at least at the same stage if not further along than Argentina Gold was before Barrick's offer came in. Luicho was highly sought after by a number of majors who were at the table when PFG scored its win. While it does not share the same location as ARP (near to existing mines), it is within kilometers to properties owned by Southwestern gold, Newmont and a number of other Peruvian companies. Metallurgy, from bottle roll testing, so far appears to show Luicho will be heap leachible pacrim-mining.com >(94%, 89% and 87% for the minus 5 mesh material; 90%, 84% and 93% for the minus 1/2" material; 91%, 73% and 68% for the minus 1" material; and 89%, 71% and 68% for the minus 2" material.) Veladaro's metallurgy meanwhile showed on average a 75% recovery rate for gold, 50% for silver when ARP was bought out. If Luicho continues to show its potential, as it has been doing, it should be picked up well before any feasibilty study is performed by the company. I would have to agree that metallurgy along with size are two key requirements for this one but I would have to disagree with your timeline. As Bill mentioned, any bidders will perform their own feasibility (scoping study) based on the metallurgical results, potential size etc. and make a decision based on that. I doubt this kind of analysis would take years on their behalf. charred, why you continue to talk this property down, as you have done since last September 1999, when the share price was less than $1 and has since moved to the current $5 plus is beyond me. Did you miss the boat on Argentina Gold and now have done the same with PFG? Qd