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Tue Dec 16, 2003
Pan American Silver Appoints Robert G. Doyle As Chief Financial Officer
Vancouver, Canada - Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAA) announces that Robert G. Doyle has been appointed Chief Financial Officer of the Company, effective January 1, 2004. He replaces Mr. Tony Hawkshaw who has resigned to pursue other business opportunities. Mr. Doyle is a Chartered Accountant and Chartered Financial Analyst. After working with one of the world's largest accounting firms, Mr. Doyle spent the last eight years at Standard Bank, most recently as Senior Vice President -- Mining Finance and Metals Marketing in New York. Mr. Doyle brings to Pan American particular expertise in cash and foreign currency management, corporate and project debt financing, and precious and base metal trading and sales.
Commenting on Mr. Doyle's appointment, Mr. Ross Beaty, Chairman and CEO said, "We are extremely pleased that Robert will be joining the Pan American team. His financial acumen and industry knowledge will be a great complement to our senior operating group as we continue our rapid growth as one of the world's premier silver mining companies. I extend my thanks to Tony for his contribution to the company during its initial years of growth and my best wishes for his future."
Pan American Silver Corp. operates three underground silver mines and one surface silver operation, and is actively working on feasibility evaluations of four new growth projects. Its silver production has nearly tripled in the last three years to approximately 9 million ounces in 2003, and is expected to grow to over 20 million ounces annually in 2006.
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For Further Information Contact:
Brenda Radies, VP Corporate Relations
(604) 684-1175
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. |
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