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Gold/Mining/Energy : Peruvian Gold Ltd. PVO -- Ignore unavailable to you. Want to Upgrade?

To: TheBusDriver who wrote (798)	8/3/2000 10:53:11 PM
From: kidl	Read Replies (1) \| Respond to of 892

Re. trading resumption and Silvertip (???) stockhouse.com

To: TheBusDriver who wrote (798)	8/4/2000 12:58:03 PM
From: ogi	Read Replies (1) \| Respond to of 892

I spoke to D.H. and he confirms what J. Kaiser said, Silvertip will remain in Peruvian and not be a part of the new Tumi. There are several factors at work here: Imperial Metals are being very noncommital toward the project, Peruvian faces large expenditure requirements in order to obtain their share of the deposit ($2.25 million by next year for the first level of acquisition, still millions more after that ),who would finance this pursuit now? the cost of proving reserves through drilling will be very expensive and will only serve to prove up a resource that might not be of interest to anyone in the current market. So it makes little sense to continue pursuing Silvertip at this time. I agrre with the company's decision that it is much better to pursue the current course with Patriot and should the market improve or Imperial's intentions become more clear Silvertip can be dealt with then. Hope this helps. Although I thought Silvertip was interesting and a possible mine I always felt better that PVO had substantial cash and I am happy it is being put to good use! Cheers, Ogi