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

To: Phil Jones who wrote (8609)	2/8/1998 7:01:00 PM
From: Bill Jackson	Respond to of 14627

Phil, The new land might well increase PFGs values if the deposit extends. When gold was at $350 and silver at $5 the 70:1 ratio makes silver a dull metal. However we are now at $7+ and gold is around $300. Munk is a flexible person, and if he feels that silver will stay at $7 or above, (as Hathaway thinks it will) he might well decide to make it a silver mine. The ease of extraction auger well for it for both gold and silver leach readily to 80%+. The facy that Hathaway has bought such a large position and taken physical possession instead of using market instruments means he cannot be forced to dump it and that silver is gone. That means that the expected Asian resurgence will make silver go to $10 or so. At that point he can meter his silver back, or sell his instruments that he may also have bought to leverage the new higher price?? Who knows what will happen, but he has built Hathaway up very well over the years and I would not discount silver going to $10-20 Bill