SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
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For
the month of,
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March
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2009
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Commission
File Number
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001-14620
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Pan
American Silver Corp.
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(Translation
of registrant’s name into English)
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1500-625
Howe Street, Vancouver BC Canada V6C 2T6
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(Address
of principal executive offices)
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Indicate by check mark whether the
registrant files or will file annual reports under cover of Form 20-F or Form
40F:
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Form
20-F
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Form
40-F
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X
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Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1):
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):
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.
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Yes
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No
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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-_______________
DOCUMENTS INCLUDED AS PART OF THIS
REPORT
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Document
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1
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Press release, dated March 16,
2009
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Document
1
March
16, 2009
PAN
AMERICAN SILVER INAUGURATES ITS MANANTIAL
ESPEJO
SILVER AND GOLD MINE
Vancouver, British Columbia – March
16, 2009 – Pan American Silver Corp. (PAAS: NASDAQ; PAA: TSX) is pleased
to announce today that it has celebrated the official inauguration of its
Manantial Espejo silver and gold mine in the southern province of Santa Cruz,
Argentina. The Company also provided an update on operations at its
newest mine.
Representatives
of the Argentinean federal and provincial governments gathered at Manantial
Espejo on March 16th to
participate in the official inaugural ceremony and celebration. Also
in attendance were Minister of Planning, Julio de Vido, Mining Secretary, Jorge
Mayoral, the Governor of the province of Santa Cruz, Daniel Peralta, and the
Canadian ambassador to Argentina, Tim Martin. Juan Vasquez,
Indentente of Gobernador Gregores was present to represent the local communities
as were senior members of Pan American’s executive management team and, of
course, Manantial Espejo’s employees.
On site
construction of the Manantial Espejo mine and 2,000 tonne-per-day processing
plant began in October of 2006 and was essentially complete by the end of
October of last year. Commissioning has run smoothly and has
progressed well ahead of plan. Manantial Espejo poured its first
silver and gold dore in late December of last year and in the first two months
of 2009 has produced over 415,000 ounces of silver and more than 7,000 ounces of
gold.
Commenting
on Manantial Espejo’s inauguration, Geoff Burns, President & CEO said: “It is extremely gratifying to be producing silver and gold at our
first mine in Argentina. In my opinion, there has never been a better time to
add a “pure” precious metals mine to Pan American’s portfolio of
assets, given the
continuing instability in the global financial markets and the promising outlook
for both silver and gold prices.”
Mr. Burns added: “Building Manantial Espejo was not an easy task. Extreme climactic conditions and acute
cost inflation added six months to the schedule and an additional US$40 million
to the final price tag. But with the help of our host communities, the
Argentine government,
our employees and
our contractors, we
persevered and today
we inaugurated a
state of the art mining
operation. We are extremely excited
about Manantial Espejo’s future and look forward to a long and mutually prosperous
affiliation with the people
of Santa Cruz and Argentina. Furthermore, I am optimistic that Pan
American will be able to significantly expand our operations in Argentina as we
make use of our experiences in building Manantial Espejo and of the positive
relationships we have established with the Argentine authorities.”
Manantial
Espejo is expected to produce 4.3 million ounces of silver and 60,000 ounces of
gold in 2009 and to provide direct employment for over 400 people during its 10
year mine life.
About
Pan American Silver
Pan
American Silver’s mission is to be the world’s largest and lowest cost primary
silver mining company, and to achieve this by increasing its low cost silver
production and silver reserves. The Company has eight operating
silver mines in Mexico, Peru, Bolivia and Argentina.
Michael
Steinmann, P. Geo., Executive Vice President Geology & Exploration, and
Martin Wafforn, P. Eng., Vice President Technical Services, each of whom are
Qualified Persons ("QP"), as the term is defined in National Instrument 43-101
“NI 43-101”, have reviewed and approved the contents of this press
release.
Information
Contact
Kettina
Cordero
Coordinator,
Investor Relations
(604)
684-1175
info@panamericansilver.com
www.panamericansilver.com
THIS
NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF THE
UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
“FORWARD-LOOKING INFORMATION” WITHIN THE MEANING OF APPLICABLE CANADIAN
SECURITIES LEGISLATION. SUCH FORWARD-LOOKING STATEMENTS AND INFORMATION INCLUDE,
BUT ARE NOT LIMITED TO STATEMENTS AS TO: THE ESTIMATES FOR COMPLETION OF THE
COMMISSIONING AND RAMP-UP AT MANANTIAL ESPEJO; THE ESTIMATED TOTAL COST OF
CONSTRUCTION AT MANANTIAL ESPEJO; ESTIMATES OF FUTURE PRODUCTION AND
FUTURE CASH AND TOTAL COSTS OF PRODUCTION; FUTURE SALES OF THE METALS,
CONCENTRATES OR OTHER PRODUCTS PRODUCED BY THE COMPANY; COMPLIANCE WITH
ENVIRONMENTAL, HEALTH, SAFETY AND OTHER REGULATIONS; AND FORECAST FUTURE
PRECIOUS METAL PRICES. THE COMPANY DOES NOT INTEND, AND DOES NOT
ASSUME ANY OBLIGATION TO, UPDATE SUCH FORWARD-LOOKING STATEMENTS OR INFORMATION,
OTHER THAN AS REQUIRED BY APPLICABLE LAW.
FORWARD-LOOKING
STATEMENTS OR INFORMATION INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND
OTHER FACTORS THAT MAY CAUSE THE ACTUAL RESULTS, LEVEL OF ACTIVITY, PERFORMANCE
OR ACHIEVEMENTS OF PAN AMERICAN AND ITS OPERATIONS TO BE MATERIALLY DIFFERENT
FROM THOSE EXPRESSED OR IMPLIED BY SUCH STATEMENTS. SUCH FACTORS
INCLUDE, AMONG OTHERS: FLUCTUATIONS IN THE SPOT AND FORWARD PRICE OF
SILVER, GOLD, BASE METALS OR CERTAIN OTHER COMMODITIES (SUCH AS NATURAL GAS,
FUEL OIL AND ELECTRICITY); FLUCTUATIONS IN THE CURRENCY MARKETS (SUCH AS THE
PERUVIAN SOLE AND MEXICAN PESO VERSUS THE U.S. DOLLAR); CHANGES IN NATIONAL AND
LOCAL GOVERNMENT, LEGISLATION, TAXATION, CONTROLS, REGULATIONS AND POLITICAL OR
ECONOMIC DEVELOPMENTS IN CANADA, PERU, MEXICO, ARGENTINA, BOLIVIA, THE UNITED
STATES OR OTHER COUNTRIES IN WHICH THE COMPANY MAY CARRY ON BUSINESS IN THE
FUTURE; OPERATING OR TECHNICAL DIFFICULTIES IN CONNECTION WITH MINING OR
DEVELOPMENT ACTIVITIES; RISKS AND HAZARDS ASSOCIATED WITH THE BUSINESS OF
MINERAL EXPLORATION, DEVELOPMENT AND MINING (INCLUDING ENVIRONMENTAL HAZARDS,
INDUSTRIAL ACCIDENTS, UNUSUAL OR UNEXPECTED FORMATIONS, PRESSURES, CAVE-INS AND
FLOODING); INADEQUATE INSURANCE, OR INABILITY TO OBTAIN INSURANCE, TO COVER
THESE RISKS AND HAZARDS; EMPLOYEE RELATIONS; AVAILABILITY AND INCREASING COSTS
ASSOCIATED WITH MINING INPUTS AND LABOR; THE SPECULATIVE NATURE OF MINERAL
EXPLORATION AND DEVELOPMENT, INCLUDING THE RISKS OF OBTAINING NECESSARY LICENSES
AND PERMITS; DIMINISHING QUANTITIES OR GRADES OF MINERAL RESERVES AS PROPERTIES
ARE MINED; BUSINESS OPPORTUNITIES THAT MAY BE PRESENTED TO, OR PURSUED BY, THE
COMPANY; THE COMPANY’S ABILITY TO SUCCESSFULLY INTEGRATE ACQUISITIONS; AND
CHALLENGES TO THE COMPANY’S TITLE TO PROPERTIES; AS WELL AS THOSE FACTORS
DESCRIBED IN THE SECTION “RISK RELATED TO PAN AMERICAN’S BUSINESS” CONTAINED IN
THE COMPANY’S MOST RECENT FORM 40F/ANNUAL INFORMATION FORM FILED WITH THE SEC
AND CANADIAN PROVINCIAL SECURITIES REGULATORY AUTHORITIES. ALTHOUGH
THE COMPANY HAS ATTEMPTED TO IDENTIFY IMPORTANT FACTORS THAT COULD CAUSE ACTUAL
RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN FORWARD-LOOKING STATEMENTS
OR INFORMATION, THERE MAY BE OTHER FACTORS THAT CAUSE RESULTS TO BE MATERIALLY
DIFFERENT FROM THOSE ANTICIPATED, DESCRIBED, ESTIMATED, ASSESSED OR
INTENDED. THERE CAN BE NO ASSURANCE THAT ANY FORWARD-LOOKING
STATEMENTS OR INFORMATION WILL PROVE TO BE ACCURATE AS ACTUAL RESULTS AND FUTURE
EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS OR
INFORMATION. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON
FORWARD-LOOKING STATEMENTS OR INFORMATION.
2
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly
authorized.
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PAN AMERICAN SILVER
CORP.
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(Registrant)
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Date:
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March
17, 2009
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By:
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/s/
Wayne Vincent
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Name:
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Wayne
Vincent
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Title:
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VP,
Accounting and Financial Reporting
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