To: Mr Metals who wrote (9811 ) 11/16/1998 8:11:00 PM From: alan holman Respond to of 10836
Placer Dome announcement/risk coverage Reuters Story - November 16, 1998 08:02 Jump to first matched term (Full text of press release from Canada NewsWire) Placer Dome places US$470 million of Global Political Risk Insurance Coverage VANCOUVER, Nov. 13 /CNW/ - Placer Dome Inc. announces that it has obtained political risk insurance coverage through its brokers J&H Marsh & McLennan with a consortium of international insurers for its investments in developing countries around the world. The policies give Placer Dome an aggregate cover of US$470 million for political risk. This coverage will address risks that the company faces with respect to having investments in developing countries. The Company is satisfied that the policy limits are adequate for the exposure it currently expects to face over the five year term of the policy. Placer Dome Inc. is one of the world's largest gold mining companies, producing more than 2.5 million ounces (78 tonnes) of gold annually at a cash production cost that is among the lowest in the industry. The Corporation's shares are traded under the symbol PDG on the Toronto, New York, Montreal, Paris, Swiss and Australian stock exchanges. International Depository Receipts for its shares are traded on the Brussels Stock Exchange. Placer Dome Inc. is one of the world's largest gold mining companies, producing more than 2.5 million ounces (78 tonnes) of gold annually at a cash production cost that is among the lowest in the industry. The Corporation's shares are traded under the symbol PDG on the Toronto, New York, Montreal, Paris, Swiss and Australian stock exchanges. International Depository Receipts for its shares are traded on the Brussels Stock Exchange. Complete information on the Placer Dome Group is available on most leading Databases including Stardata (CNW), Dow Jones Telerate, Bloomberg Financial Markets, Infoglobe, Infomart or QL Systems in Canada and Dow Jones News Retrieval, Bloomberg Financial Markets, Standard and Poors, Nexis, Dialog, CompuServe or First Call, in the United States. %SEDAR: 00002304E /For further information: Investor Relations - Earl Dunlop (604) 661-3779; Media Relations - Hugh Leggatt (604) 661-1554; In Australia, Investor and Media Relations - Ian Williams (02) 9256-3800; In South America: Investor and Media Relations - Felipe Ruiz (56) (2) 206-6252; On the Internet www.placerdome.com/