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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF DECEMBER 9, 2002
PAN AMERICAN SILVER CORP.
(Registrant's name )
SUITE 1500, 625 HOWE STREET
VANCOUVER, BRITISH COLUMBIA, CANADA V6C 2T6
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F Form 40-F X
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Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-________.
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[PAN AMERICAN SILVER CORP. LETTERHEAD]
NEWS RELEASE
December 9, 2002
PAN AMERICAN REPORTS UPDATE ON DUKAT
Vancouver, British Columbia ...... Pan American Silver Corp. (NASDAQ: PAAS; TSX:
PAA) has received notice that the Dukat silver mine has started mine production.
Dukat is a large primary silver mine in far eastern Russia managed by Serebro
Magadana, a Russian company owned 80 percent by OAO MNPO Polimetall and 20
percent by Pan American Silver. Pan American wrote off its entire investment in
Dukat in 2000 and has no management or capital obligations to the project.
Polimetall announced at a recent reception in Moscow that ore is being mined
from both open pit and underground sources at Dukat, and silver concentrate is
being produced. This concentrate is reportedly being stockpiled for future
export to refining facilities pending receipt of Russian approvals, including a
presidential export decree. Pan American will report production estimates when
mine production reaches sustainable levels and export approvals are received.
- End -
Ross J. Beaty, Chairman and C.E.O. or Rosie Moore, Vice President, Corporate
Relations Phone (604) 684-1175 or e-mail info@panamericansilver.com
CAUTIONARY NOTE
Some of the statements in this news release are forward-looking statements, such
as 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. Actual results and developments
may differ materially from those contemplated by these statements 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.
1500-625 HOWE STREET, VANCOUVER, BC CANADA V6C 2T6
TEL 604.684.1175 FAX 604.684.0147
www.panamericansilver.com
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant, Pan American Silver, has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
Date: December 9, 2002
PAN AMERICAN SILVER CORP.
By: /s/ Ross Beaty
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Ross Beaty
Chairman and C.E.O.