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

To: marcos who wrote (9558)	4/24/1998 11:15:00 PM
From: Yorikke	Respond to of 14627

Brings back old memories. I think I have hard copy of that one! Remember looking at it when PFG was tradin in the .80's and watchin the price creep up. I agree I'd rather have this for a long run investment. It's not going anywhere fast; and its already down that down. regards, mnmuench

To: marcos who wrote (9558)	4/24/1998 11:26:00 PM
From: Enigma	Read Replies (1) \| Respond to of 14627

I'm out of PFG for now, but have it as one of my 'next ones' The chart looks weak, and there are a lot of hurdles to go through (over?) between here and there. The biggest disappointment must have been in finding so little gold and in the realisation that it is a silver play - unless more gold turns up. Let's say that there are 200 million oz. of silver therefore about 4million oz of gold equivalent. Not likely to get Barrick's pulse beating fast just now - especially with the hurdle of it being silver not gold. On the other hand the company is well financed and managed, and it will be a mine one day. So it is one to accumulate and hold, and there is always the possibility of a surprise. I may miss the boat of course.

To: marcos who wrote (9558)	4/25/1998 8:50:00 AM
From: David R. Schaller	Respond to of 14627

marcos, Thanks finding the HRA article. Its been a long time since I read the 1995 writeup. I have clipped a small portion and pasted below. --------------------------------------------------------------------- Pacific Rim has an option to earn 100% of the 3,600 Ha Diablillos property in Salta province which requires cash and work commitments of US$880,000 by 1995, which have been met, and a further $5 million cash and a feasibility study by 1998. The project was farmed-out to Barrick Gold Crop. (ABX:T,N) at the end of July. Once the agreements are signed Barrick will pay US$1.5 million to earn 10% and may then increase its interest to 25% for a further US$2 million at the end of year 1, to 45% for a further US$3 million at the end of year 2 and to 70% for a further US$4 million at the end of year 3. If Barrick earns 70% it must then pay Pacific Rim US$4 million per annum until a production decision is reached. Barrick already has staff on site to choose drill targets and is expected to finalize the agreement early in September. --------------------------------------------------------------------- It mentions a yearly $4mil payment to PFG from Barrick. I have always understood this to be $4mil expended in additional property work, but I hope HRA is correct. I think it would be due in July. Could well promote a decision on Barricks part. Dave