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

To: rdww who wrote (7934)	12/5/1997 8:55:00 AM
From: Quickdraw	Respond to of 14627

A quick point. PFG in their last resource estimate indicated a resource of 91.3 million ounces of silver and it is growing. Barrick, in its latest Press Release talks of Pierina, its gold reserve and in a rare moment mentions its silver content "more than 50 million ounces of silver" biz.yahoo.com With the decline in the POG the importance of silver and the increase in the price of silver, becomes more and more evident in this one. Later, Rick

To: rdww who wrote (7934)	12/5/1997 2:06:00 PM
From: paul ross	Respond to of 14627

To: rdww who wrote (7934)	12/8/1997 4:17:00 AM
From: Shirley Owen	Read Replies (1) \| Respond to of 14627

Hi rdww, Just thought I would reply to your comment that "Pierina turned out to be a big silver thing with some gold" On the contrary, Pierina will be the lowest cost gold mine in the world at $50.00 per ounce cost. No doubt, that the silver credits will contribute immensely to this low cost, but the fact that they have 7.5 million ounces of gold doesn't hurt either. Since Diablillos has been compared to Arequipa in so many ways, including the geolological aspect, I just thought I'd keep the record straight.:-) Pierina Project, Peru Barrick's Web Page: "Pierina is expected to produce 750,000 ounces of gold annually,with an average grade of 0.125 ounces of gold per ton and an operating cost of $50 an ounce in the early years. This is 250,000 ounces a year more than originally planned, at half the original estimated operating cost. Annual production will be highest in the first three years of mine life, due to the availability of near-surface high-grade ores in an area called Payback Hill. The 100% owned Pierina Project, with 7 million ounces of reserves,will be an open-pit mine, with a stripping ratio of 1.4 to 1, and a mine life of 11 years. The ore will be crushed next to the pit and then conveyed two and a half kilo-metres to the leach pad. A valley-fill heap leach system will be used starting with the high grade ore from Payback Hill. As more ore is delivered, the valley will fill, expanding the surface leach to higher, wider areas of the valley. Once more surface area is available, it will allow Barrick to increase leaching from 19,500 tonnes per day to 27,000 tonnes per day in 2001. The decision to heap leach this gold is in keeping with Barrick's objective to lower costs and raise production. Results from four test pads on the site gave gold recoveries of 80%, which is a rate comparable to milling but requiring less capital investment. Lower capital and operating costs will more than offset the reduced silver recovery associated with heap leaching."