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

To: Canuck Dave who wrote (239)	5/23/2002 8:48:15 PM
From: IngotWeTrust	Respond to of 294

I seem to recall volunteering to post a summary of said call...LOL However, Russell's Dow Theory letters tout released on the same day as the merger announcement, combined with gold's knocking on $320 level has more "influence" than the conference call... g_t

To: Canuck Dave who wrote (239)	5/24/2002 5:35:50 AM
From: Al Collard	Read Replies (1) \| Respond to of 294

Pan American Silver buys royalty on La Colorada VANCOUVER, May 23 /CNW/ - Pan American Silver Corp. (NASDAQ: PAAS; TSE: PAA) has exercised its right to acquire all of the existing five percent net smelter return royalty on its La Colorada silver mine in Mexico. Pending regulatory approval, Pan American will issue 390,117 common shares with a four- month hold period, for a total purchase price of US$3 million, for the royalty that was retained by the former owners when Pan American bought the mine in 1998. The royalty purchase will result in 100 percent ownership of La Colorada by Pan American, with no encumbrances, and will increase Pan American's cash flow from the mine when full scale production begins, currently planned for mid-2003.