Pan American producing silver coins and bars for retail investors and to stimulate silver demand
April 26 2005 - 10:01AM
PR Newswire (US)
Pan American producing silver coins and bars for retail investors
and to stimulate silver demand VANCOUVER, April 26
/PRNewswire-FirstCall/ -- Pan American Silver Corp. (PAAS: NASDAQ;
PAA: TSX) is pleased to announce that it has begun producing a new
line of silver bullion products for its shareholders and other
silver investors. The products comprise .999 pure silver coins and
bars in one, five and ten ounce weights, featuring Pan American's
trademark "silver hammer" and using silver supplied from Pan
American's La Colorada mine in Mexico, one of the world's purest
silver mines today. The Pan American silver products will be minted
at and exclusively available through Washington State-based
Northwest Territorial Mint, one of the largest private mints in the
United States. They will sell for $0.50 to $0.70 per ounce above
the spot price of silver on the date of order, depending on volume,
which is one of the lowest mark-ups for any silver coin or bar
products available anywhere. Pan American Silver's Chairman, Ross
Beaty, commented: "Silver is money, as it has been for millenia.
These pure silver products will enable individuals and institutions
to easily purchase Pan American's beautiful silver coins and bars
for long term investment and enjoyment. Silver has always been
important as a hedge against inflation and devaluation of paper
currencies, and these Pan American "silver hammers" will, I hope,
become industry-standard bullion products for silver investors for
a long time to come. Silver is a wonderful and immensely useful
metal and I am very pleased that we can provide our shareholders
and other investors with an easy, inexpensive way to purchase
silver directly from our purest silver mine." The coins and bars
can be ordered by calling the Northwest Territorial Mint at
1-800-344-6468 or from http://www.silverpa.com/. For further
information contact: Brenda Radies, VP Corporate Relations, (604)
684-1175 http://www.panamericansilver.com/ CAUTIONARY NOTE Some of
the statements in this news release are forward-looking statements
and as such are based on an assumed set of economic conditions and
courses of action. These include estimates of future production
levels, expectations regarding mine production costs, expected
trends in mineral prices and statements that describe Pan
American's future plans, objectives or goals. There is a
significant risk that actual results will vary, perhaps materially,
from results projected depending on such factors as changes in
general economic conditions and financial markets, changes in
prices for silver and other metals, technological and operational
hazards in Pan American's mining and mine development activities,
uncertainties inherent in the calculation of mineral reserves,
mineral resources and metal recoveries, the timing and availability
of financing, governmental and other approvals, political unrest or
instability in countries where Pan American is active, labor
relations and other risk factors listed from time to time in Pan
American's Form 40-F. DATASOURCE: Pan American Silver Corp.
CONTACT: Brenda Radies, VP Corporate Relations, (604) 684-1175;
http://www.panamericansilver.com/
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