Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Shirley Owen who wrote (7978)	12/8/1997 1:02:00 PM
From: Quinn	Read Replies (1) \| Respond to of 14627

Further to your recent postings re Pierina, the following just came out from the WSJ: Journal says Barrick keen on Pierina Quote: Barrick Gold Corp ABX Shares issued 372,817,172 Dec 5 close $22.95 Mon 8 Dec 97 In the News The Wall Street Journal reports in its Monday edition that with the price of gold in the gutter, mining companies will go just about anywhere and do just about anything to find a low-cost mine. Reporter Mark Heinzl says that is why Canada's Barrick Gold is gladly spending US$260 million to build the Pierina gold mine in the rugged Peruvian Andes, 13,000 feet above sea level. It is doing this at a time when most gold producers are shutting mines or scrapping plans to build new ones. Pierina will be one of the world's lowest cost gold mines. Barrick says that after the mine construction is completed in a year, Pierina will produce 750,000 ounces of gold annually at operating cash costs ranging from only US$50 to US$100 per ounce. Barrick is in a hurry to develop Pierina and cushion the blow of weak gold prices, which make high-cost mines uneconomic. Pierina's operating costs will be low because it has a good grade of gold that can be extracted by an economical process and labour costs are cheap. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com Unquote This bodes well for the Diablillos property and I would doubt if Barrick will be leaving anytime soon!