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Pan American Silver Corp. Message Board

  • insurancedirector insurancedirector Feb 21, 2013 4:00 PM Flag

    PAAS a long long long term play

    Obviously a couple of things have come out of this.
    1. Did they overpay for minefinders? They seem to be decreasing the reserves since acquisition, not a good sign.
    2. If they plan on taking impairment for Navidad it will last 6 years at this rate....however the flip side is that say if they take a total $300m writedown and then they get to mine it, it will be an instant 15-20% on the SP.

    I did correctly predict the extra divi, it does help with the losses, LOL!

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    • $100M partial write-off of Navidad asset didn’t make any impact, mostly because earning report was strong and it was reported on good day for gold. I guess they could take full write-off and still it would not have any impact.

      Regarding Minefinders acquisition, yes PAAS overpaid, but it was a year ago (water under bridge at this point) and anyway Dolores is the main growing (potentially) asset here now.

 
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