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

To: Enigma who wrote (8795)	2/25/1998 7:59:00 AM
From: David R. Schaller	Read Replies (1) \| Respond to of 14627

enigma, the critical decision was made by Barrick in July 1997 when they paid the last property payment of $3.75mil. 9 mos ago Barrick had more information available to them than PFG has now. For example when PFG released its resource estimate, it turns out that the calculation didn't even include the previous six months of drill data. We may have been surprised at the numbers churned out by PFG but Barrick wasn't. They are probably almost a year ahead of PFG in data accumulation and interpretation. They know what the total resource is, what the twinned DD holes show, what the strip ratio is, what the recovery rates will be, what their minimum requirements are...but most importantly they knew a lot of that before they put up the $3.75mil Of course they didn't know Silver would go up $2/oz. But how does that work against Diablillos? The long and short of it is that I don't see them walking. Someone at Barrick has made a series of very poor decisions if Barrick finds out that they can't use this property at this late date. Regards, Dave