You obviously need to do some more due diligence. The area in question which Barrick said they acquired from Lac Minerals via its Chile subsidiary, Campania Minera Nevada SA in 1994 was initially called the Pascua Mine. Below is a paragraph from Barricks 1997 Prospectus dated April 14, 1997. If you recall, the titles ABX acquired from Lac Minerals (Amerillos 1-3000) are concession for salt and nitrates and have expired due to ABX overlapping the claims with Tesoros claims to which they don't own and included in ABX SEC filings and Pascua Lama prospectus. This is confirmed by two expert Chilean mining surveyors reports that have been posted here many times.
Not to confuse you any farther, I’ll just say this. ABX is in trouble in Chile and Mr Lopehandia and MWR look to benefit from Barrick’s Pascua Lama Ownership problems. I don’t care if you believe me or anyone else who has been talking about this issue, you can wait and see. BTW, ABX and SLW keep heading lower each step of the way.
Interesting how ABX has pushed the Pascua project each and every year since 1997 while increasing its development cost from $500 million in 1997 to $5 billion to develop Pascua Lama in 2011. Yes, there is definitely something wrong going on in Chile with Pascua Lama. Something to think about.
ABX 1997 Prospectus dated April 14, 1997:
Pascua Mine Project
The Pascua Mine Project is located approximately 30 miles to the north of the El Indio Mine complex and adjacent to the Chile-Argentina border. The Project is at an elevation of between 12,000 and 16,000 feet. Barrick holds an 80% interest In the Pascua Mine Project through its indirect subsidiary, Campania Minera Nevada SA At the time of Barrick 's acquisition of the Project in September 1994, proven and probable gold reserves were approximately 2 million ounces. Barrick 's discovery of The Quebrada de Pascua deposit in 1995 and its other exploration activities have resulted in an 8.1 million Ounce Increase in the Pascua Mine Project’s total proven and probable gold reserves, which stood at Approximately 10.1 million ounces as at December 31, 1996, of which Barrick's share is approximately 8.1 million ounces. Development work is continuing at the Project, with construction costs for the initial Project to develop the oxide reserve expected to be approximately $500 million. Commercial production is currently expected to commence in 2000, and the mine is expected to produce an average of 400,000 ounces of gold per year for a minimum of 20 years,