UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER TO RULE 13A or 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the Month of: January, 2008		File No.: 000-13727

PAN AMERICAN SILVER CORP.

(Translation of Registrant’s Name into English)

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20F or Form 40F:      Form 20F      o      Form 40F       þ

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).      Yes       o      No       þ

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).      Yes      o      No       þ

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.                               Yes      o        No     þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with rule 12g-3-2(b): 82 -                     .

 

 

Submitted herewith:

1. Form 43-101 Technical Report for the Morococha Property.

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.

		PAN AMERICAN SILVER CORP.
Date: January 30, 2008		“Robert Pirooz”             General Counsel

MOROCOCHA PROPERTY

TECHNICAL REPORT

YAULI PROVINCE, PERU

EFFECTIVE DATE: DECEMBER 30, 2007

PREPARED BY:

MICHAEL STEINMANN, P.Geo.

MARTIN WAFFORN, P.Eng.

DONALD EARNEST, P.Geo.

 

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TABLE OF CONTENTS

TABLE OF CONTENTS			2
LIST OF FIGURES			4
LIST OF TABLES			4
LIST OF GRAPHS			4
1.0 TITLE PAGE			5
2.0 TABLE OF CONTENTS			5
3.0 SUMMARY			5
3.1 Property Description and Location, Access, Infrastructure, and History			5
3.2 Geological Setting, Deposit Type, and Mineralization			6
3.3 Exploration and Drilling			6
3.4 Sampling Method and Approach			7
3.5 Sample Preparation, Analysis, Security, and Data Verification			7
3.6 Mineral Processing and Metallurgical Testing			7
3.7 Mineral Resources and Mineral Reserves			8
3.8 Additional Requirements for Production Properties			9
3.8.1 Mining and Processing Operations			9
3.8.2 Markets and Contracts			9
3.8.3 Environmental Considerations			10
3.8.4 Taxes and Royalties			10
3.8.5 Capital and Operating Cost Estimates			10
3.8.6 Economic Analysis			10
4.0 INTRODUCTION			11
5.0 RELIANCE ON OTHER EXPERTS			12
6.0 PROPERTY DESCRIPTION AND LOCATION			12
6.1 Mineral Tenure			12
6.1.1 General Provisions			12
6.1.2 Morococha Properties			14
6.2 Permits and Agreements			33
6.2.1 Agreements			33
6.2.2 Permits and Licenses			33
6.3 Environmental Issues			36
7.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY			36
8.0 HISTORY			37
9.0 GEOLOGIC SETTING			38
10.0 DEPOSIT TYPES			39
11.0 MINERALIZATION			39
12.0 EXPLORATION			41
12.1 Exploration Prior to PAS Acquisition of Morococha			41
12.2 PAS Exploration (2004-2005)			41
13.0 DRILLING			44
14.0 SAMPLING METHOD AND APPROACH			54
14.1 General Sampling Procedures			54
14.2 Drill Core Samples			54
14.3 Chip-Channel Samples			55
15.0 SAMPLE PREPARATION, ANALYSIS AND SECURITY			55
16.0 DATA VERIFICATION			58
17.0 ADJACENT PROPERTIES			64
18.0 MINERAL PROCESSING AND METALLURGICAL TESTING			64
18.1 Metallurgical Testing and Assumptions			64
18.2 Plant Improvement Projects			69
19.0 MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES			70
19.1 Mineral Reserve Estimation Methodology			70
19.1.1 Block Volumes			70
19.1.2 Block Grades			70
19.1.3 Dilution			70
19.1.4 Block Tonnes			72
19.1.5 Adjustment Factors			72

 

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19.2 Mineral Reserves and Mineral Resources			73
19.2.1 Mineral Reserves			73
19.2.2 Mineral Resources			77
20.0 OTHER RELEVANT DATA AND INFORMATION			78
21.0 INTERPRETATION AND CONCLUSION			78
22.0 RECOMMENDATIONS			79
23.0 REFERENCES			80
24.0 ADDITIONAL REQUIREMENTS FOR TECHNICAL REPORTS ON PRODUCTION AND DEVELOPMENT PROPERTIES			82
24.1 Mining Operations			82
24.1.1 Manuelita Zone			83
24.1.2 Sulfurosa Zone			84
24.1.3 Codiciada Zone			84
24.1.4 San Antonio Zone			84
24.1.5 Yacumina Zone			84
24.1.6 Potential Impact of the Proposed Toromocho Development on the Mine Plan			85
24.2 Recoverability			86
24.2.1 Crushing			87
24.2.2 Grinding and Classification			87
24.2.3 Flotation			87
24.2.4 Thickening and Filtration			88
24.2.5 Tailings Disposal			89
24.2.6 Water Supply and Consumption			89
24.3 Markets			89
24.3.1 Trading of Peruvian Copper, Lead, and Zinc Concentrates			90
24.3.2 Weighing, Sampling and Moisture Determination			90
24.4 Contracts			90
24.5 Environmental Considerations			91
24.5.1 General			91
24.5.2 External Review			92
24.5.3 Kingsmill Drainage Tunnel Discharge			92
24.5.4 Huascacocha Tailings Facility			94
24.5.5 Environmental Improvement and Management Program (PAMA)			94
24.5.6 Closure and Reclamation Plan			95
24.5.7 Environmental Monitoring			95
24.6 Taxes			95
24.6.1 Fiscal Depreciation Rates			95
24.6.2 Income Tax and Workers’ Participation			96
24.6.3 Value Added Taxes			96
24.6.4 Mining Royalties			96
24.6.5 Voluntary Contributions			96
24.7 Capital and Operating Costs			96
24.7.1 Capital Costs			96
24.7.2 Operating Costs			97
24.8 Economic Analysis			98
24.8.1 Metal Price Sensitivity			101
24.8.2 Grade Sensitivity			101
24.8.3 Capital Cost Sensitivity			102
24.8.4 Operating Cost Sensitivity			102
24.9 Mine Life			103
25.0 DATE AND SIGNATURE PAGE			104
26.0 FIGURES			105

 

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LIST OF FIGURES

Figure 1: Location Map			105
Figure 2: Morococha Mine Surface Rights			106
Figure 3: Morococha Mine Concessions			107
Figure 4: Morococha Surface Installments			108
Figure 5: Regional Geology Map Plan			109
Figure 6: District Geology Map			110
Figure 7: Mineral Reserve Blocks — Isabel Vein			111
Figure 8: Mineral Processing Flowsheet			112
Figure 9: Mining Method			113

LIST OF TABLES

Table 6-1: List of Morococha Concessions			19
Table 6-2: List of Morococha Concessions transferred from Silver Lead Mining Company S.A.			28
Table 6-3: List of Morococha Concessions transferred from Sociedad Minera Corona			29
Table 6-4: List of Morococha Concessions Held with Different Third Party Mining Companies			29
Table 6-5: List of concessions in negotionation with Minera Saracancha S.A.C.			30
Table 6-6: List of Concessions Reviewed by Rodrigo, Elias and Medrano — Abogados			31
Table 13-1: Summary of PAS Diamond Drilling			44
Table 13-2: Summary of Manto Italia Diamon Drill Holes			46
Table 16-1: Summary of Budget vs. Ore Processed			63
Table 18-1: Life of Mine Head Grade Projections			66
Table 18-2: Life of Mine Recovery Projections			66
Table 18-3: Life of Mine Concentrate Projections			66
Table 24-1: Concentrate Revenues 2006			90
Table 24-2: List of Existing Sale Contracts			91
Table 24-3: Life of Mine Projected Capital Expenditures			97
Table 24-4: Operating Cost Estimate for the Life of Mine Plan			97
Table 24-5: Operating Unit Cost Estimate for the Life of Mine Plan			98
Table 24-6: Economic Model			100
Table 24-7: Metal Price Sensitivity			101
Table 24-8: Metal Grade Sensitivity			102
Table 24-9: Capital Cost Sensitivity			102
Table 24-10: Operating Cost Sensitivity			103

LIST OF GRAPHS

Graph 16-1: Blank Results — Silver			58
Graph 16-2: Blank Results — Lead			59
Graph 16-3: Blank Results — Zinc			59
Graph 16-4: Standard No. 1 Results — Silver			60
Graph 16-5: Standard No. 1 Results — Lead			60
Graph 16-6: Standard No. 1 Results — Zinc			61
Graph 16-7: Check Sample Results — Silver			61
Graph 16-8: Check Sample Results — Lead			62
Graph 16-9: Check Sample Results — Zinc			62
Graph 18-1: Silver Head Grade vs. Recovery			67
Graph 18-2: Copper Head Grade vs. Recovery			68
Graph 18-3: Lead Head Grade vs. Recovery			68
Graph 18-4: Zinc Head Grade vs. Recovery			69

 

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1.0 TITLE PAGE

This Technical Report has been prepared in accordance with the National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and the contents herein are organized and in compliance with Form 43-101F1 Contents of the Technical Report (“Form 43-101 F1”). The first two items are the Title Page and the Table of Contents presented previously in this report. They are mentioned here simply to maintain the specific report outline numbering required in Form 43-101F1.

2.0 TABLE OF CONTENTS

See discussion in Section 1.0.

3.0 SUMMARY

3.1 Property Description and Location, Access, Infrastructure, and History

The Morococha property is located in the Morococha District, Yauli Province, Junin Department, Peru, on the east side of the continental divide just below Ticlo summit, approximately 38 kilometres west of the city of La Oroya and 137 kilometres east of Lima. The Morococha property’s general coordinates are latitude 11° 36’ S and longitude 76° 10’ W.

The Morococha property is owned and operated by Compania Minera Argentum (“Argentum”), a Peruvian company in which Pan American Silver Corp. (“PAS”), through its subsidiary Pan American Peru (“PASP”), holds an 89.35% interest as of October 31, 2007 (the remaining interest is held mainly by Alejandro Gubbins and Compañia Minera Casapalca S.A. as well as some minority shareholders). The Morococha property is comprised of three economic administrative units (“UEAs”) and various concessions held outside of these UEAs. The three UEA’s contain 458 mining concessions owned outright by Argentum, 11 concessions have been transferred to Argentum from Silver Lead Mining Company (public registry pending) and 5 concessions have been transferred to Argentum from Sociedad Minera Corona (“Corona”) (public registry pending). 37 concessions are under a lease agreement with Corporación Minera Sacracancha S.A., for a grand total of 12,192.01 hectares. In addition, there are 21 mining concessions held with different third party participations covering 106.23 hectares. The majority of the mining concessions comprising the Morococha property are contiguous. All known mineralized zones in which mining operations are currently conducted, and in which known mineral reserves exist, are contained within the boundaries of these concessions.

Argentum does not hold registered legal title to most of the surface lands that overlie the mining concessions which comprise the Morococha property. These surface rights are owned by Centromin Peru (“Centromin”), the Peruvian national mining company. The Morococha property’s process plants, shafts and access roads are all located on surface lands where legal title is registered in the name of Centromin. Argentum’s use (and that of its predecessor) of these surface lands have been exercised for decades with Centromin’s knowledge and Argentum’s claim to continued use is based on long term use under Peruvian law. Peru Copper Inc., a copper mining company carrying on business in Peru, has been granted by Centromin the option to acquire mining concessions and surface rights to the Toromocha property. In June 2007, Aluminum Corporation of China (“Chinalco”) purchased 100% of the outstanding shares in Peru Copper Inc. PAS had discussions with Chinalco with respect to negotiating surface rights issues that may arise between PAS and Chinalco in connection with their respective operations.

 

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Mining began in the region around Morococha before 1500, and since the late 1800’s production has been continuous in the district. In the 1940’s the Gubbins family began operating mines in the Morococha district, eventually consolidating its holdings into Sociedad Minera Corona. Current underground mining operations consist primarily of typical overhand cut and fill, shrinkage, and mechanized room and pillar methods using waste rock for backfill where needed. The Yauli, Maria and Central production shafts provide access down to the Kingsmill drainage tunnel level at an elevation of 4,020 metres above sea level. The Maria shaft extends down to the 1200 level (4165 metre elevation, or 140 metres above the Kingsmill tunnel). Pique Inclinado 067 provides access to the 7 level from the 6 level in the Buenaventura vein, and Pique Codiciada provides access between the 460 and 310 levels in the Codiciada zone.

There are two process plant facilities on the property, approximately 5 kilometres apart. The Sacracancha plant was the primary milling facility for Corona until the acquisition of the Amistad plant which is currently the only process facility in use. Some of the processing equipment from the Sacracancha plant has been removed to be used at other PASP plants. Both process plants are conventional selective flotation facilities capable of producing individual copper, lead, and zinc concentrates, which are then shipped to third party smelters for final refining. The tailings from both plants are deposited sub-aqueously in the Huascacocha Lake to the north of the Sacracancha plant. The facility contains tailings storage capacity for over 20 years. The Peruvian government is investigating the possibility of using the Huascacocha water for human consumption in Lima. To the best of the authors’ knowledge, there is no study confirming the technical or environmental feasibility of this project. No change of the tailings area has been contemplated in the economic study, as the chance for execution of such a project is very remote and would happen in the distant future.

3.2 Geological Setting, Deposit Type, and Mineralization

Mineralization in the Morococha deposit includes epi-mesothermal silver-lead-copper-zinc veins and bedded silver-base metal replacements or mantos (which together account for the majority of the past and present economic mineralization at the Morococha operations), intrusive-sediment contact skarns, and the quartz porphyry-hosted Toromocho disseminated copper system.

Ore and gangue mineralogy is similar in veins and mantos but it varies considerably across the property. Sphalerite, galena, and chalcopyrite are the most important primary minerals for zinc, lead and copper. Silver is generally present as freibergite (Ag-tetrahedrite) or argentiferous galena. Gangue minerals generally consist of quartz, calcite, barite and rhodochrosite, the latter having a strong correlation with higher silver grades.

3.3 Exploration and Drilling

Corona conducted only minimal exploration in the district between the late 1990’s and PAS’s acquisition of the Morococha operations in early 2004. However, exploration potential is considered to be excellent throughout the district due to the significant vertical extent (over 800 m) of economic veins and the prevalence of multiple carbonate units favorable for replacement mineralization. Shortly after acquiring the Morococha operation, PAS started aggressive exploration programs based on underground and surface diamond drilling. From late 2004 to September 2007 a total of 743 underground diamond drill holes and 110 surface diamond drill holes were completed for a grand total of 146,402 m of diamond drilling. There are no core or sample recovery issues which could have materially impacted the accuracy and reliability of the assay results.

 

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3.4 Sampling Method and Approach

PAS has standardized sampling procedures throughout the Morococha operations and the authors of this Technical Report have ensured that these practices meet or exceed industry standards. All sampling that provided data for estimation of the December 31, 2006 mineral reserves and mineral resources was done by Argentum (PAS) personnel under the direct supervision of the Geology department. The data used for the estimation of mineral reserves and resources at the Morococha property were derived from underground chip channel samples from the backs of drifts, the ribs of crosscuts, the backs of stopes, the ribs of raises, and from diamond drill hole samples. Chip-channel samples are taken every 2 metres across the veins or mantos in exploration drifts. Stopes are sampled at least once a month on 2 metre centers along strike. As of July 31, 2007, the Morococha database contained records from 57,563 samples — 26,538 samples from diamond drilling and 31,025 samples from underground chip-channeling.

3.5 Sample Preparation, Analysis, Security, and Data Verification

All sample preparation and analyses are done on site, and the operation maintains chain of custody throughout the sampling, sample preparation, and analytical processes. All samples from both the Morococha mines and mill are first run for silver, lead, copper, and zinc using an atomic absorption (“AA”) unit. Samples with initial AA analyses for silver greater than 500 grams per tonne are re-run by fire assay, using assay charges that vary in size from 15 to 50 grams depending on the grade of the initial AA assay (the larger the AA assay value, the larger the fire assay charge) and the oxidation state of the sample. Wet chemical analysis for lead and zinc is reserved for concentrate samples or base metal grades over 10%.

In 2005, Argentum hired the third party laboratory MINLAB S.R.L. Lima (MINLAB) in order to ensure that the appropriate sampling and analytical standards were applied to the mineral samples obtained from the Morococha operations. In addition, a LIMS system has been installed in the lab to assure an automated quality control of standards, blanks and check samples. The mine laboratory conducts a routine internal QA/QC program that includes external check samples and the routine submission of standards. Additionally, there is a QA/QC program supervised by the geology department that includes the submission of at least one certified standard and one blank per day as well as third party laboratory check assays on 2-5% of the samples and 1-2% of the check samples.

3.6 Mineral Processing and Metallurgical Testing

Forecasts for metal recovery at Morococha are based on historical performance of plant operations. The Morococha operation has many years of production history, and as a result the metallurgical behavior of the ores from the deposit is very well established, and there is sufficient experience and knowledge to predict the metallurgical recoveries used in the life of mine (LOM) plan to a reasonable degree of accuracy. Additional metallurgical testing is undertaken from time to time to explore ideas for improvement or the application of new technology as it becomes available.

 

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3.7 Mineral Resources and Mineral Reserves

Mineral reserves and mineral resources are reported separately for the Morococha operations. No mineral reserves are included in the tabulation of mineral resources. The proven and probable mineral reserves and the measured, indicated, and inferred mineral resources for the Morococha operations as of December 31, 2006 are summarized in Table 2-1:

Table 2-1 – Summary of Mineral Reserves and Mineral Resources as of 12-31-06

		Proven and Probable Reserves
Category		DMT				Ag g/mt				Ag Cont. (oz)				Cu %				Pb %				Zn %
Proven			4,073,423				155				20,300,280				0.36				1.49				3.84
Probable			2,304,141				157				11,649,101				0.41				1.83				4.16
Total Reserves			6,377,564				156				31,949,381				0.38				1.61				3.96

		Measured and Indicated Resources
Category		DMT				Ag g/mt				Ag Cont. (oz)				Cu %				Pb %				Zn %
Measured			2,052,231				192				12,659,352				0.30				1.47				3.52
Indicated			810,905				178				4,642,780				0.41				1.26				2.90
Total M&I Resources			2,863,135				188				17,302,132				0.33				1.41				3.34

		Inferred Resources
Category		DMT				Ag g/mt				Ag Cont. (oz)				Cu %				Pb %				Zn %
Total Inferred Resources			9,783,592				227				71,402,748				0.47				1.90				4.37

	1		Estimated using prices of $9.00 per ounce of silver, $2,100 per tonne of zinc, $1,000 per tonne of lead and $5,000 per tonne of copper.
	2		Mineral resources are in addition to mineral reserves and were estimated using prices of $9.00 per ounce of silver, $2,100 per tonne of zinc, $1,000 per tonne of lead and $5,000 per tonne of copper. .
	3		Mineral reserve estimates for Morococha were prepared under the supervision of, or were reviewed by, Michael Steinmann, P.Geo., Senior Vice President Geology & Exploration, and Martin G. Wafforn, P.Eng. Vice-President of Mine Engineering, as Qualified Persons, as that term is defined in NI 43-101.
	4		Mineral reserves are based on net value cut-offs that range from US$ 32.00 per tonne to US$ 45.00 per tonne, depending on the mining area and planned mining method.
	5		“DMT” means dry metric tonnes.

There are no known environmental, permitting, legal, title, socio-economic, marketing, or political issues that could materially affect the above mineral reserves, and other than depletion of mineral reserves by normal mining (which should be offset by ongoing new mineral reserve additions from exploration and delineation work), there are no mining or metallurgical factors that could have a similar material effect. The Morococha mineral reserves were estimated in accordance with the guidelines set forth in NI 43-101 and accepted North American mining industry practices.

 

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3.8 Additional Requirements for Production Properties

3.8.1 Mining and Processing Operations

The Morococha operations produce ore from the Manuelita, Codiciada, Sulfurosa, San Florencio, Yacumina, and Alapampa mining areas. Since the completion of the initial Morococha Operations NI 43-101 Technical Report in February 2004, PAS closed the Sacracancha mill and shifted all processing of ore from the various mines that comprise the Morococha operations to the 2,000 tonne/day capacity Amistad mill and concentrating plant, which processes ore by selective flotation methods.

In order to determine the life of the Morococha operation, a long-range life of mine (LOM) plan and development program has been completed which assumes that the adjacent Toromocho project is not developed during the term of the plan. This LOM plan is based on the current production rate of 661,000 tonnes of ore per annum in its early years, increasing to a maximum of 705,000 tonnes per annum as the development currently underway in the north and west zones of the mine is advanced. Production is scheduled to come from all areas of the operation at different levels through 2017, with the mineral reserves in the Sulfurosa, Yacumina and San Antonio zones being exhausted by the end of 2014.

The Toromocho deposit is contained within the boundaries of the Morococha property, overlying portions of the Morococha underground mining operations. The development and operation of the Toromocho open pit during the expected life of the Morococha underground operations would present operational challenges to PAS. The LOM plan would have to be re-worked to increase production from Codiciada earlier in order to minimize any production delays resulting from loss of infrastructure (underground haulage ways, shaft collar access, the Amistad processing plant, etc.). The capital requirements to refurbish the Sacracancha plant or to build new facilities net of any compensation from Chinalco for the development of Toromocho presently are not know to any normal degree of accuracy.

3.8.2 Markets and Contracts

The principal products from the Morococha operations are silver-rich copper, lead, and zinc concentrates. All of these concentrates are sold under arm’s length contracts to metals trading companies or integrated mining and smelting companies. Under the terms of all of its sales contracts, the Morococha operation receives payment for an agreed percentage of the silver, copper, lead, or zinc contained in the concentrate, after deductions for smelting and refining costs. To date, PAS has been able to secure contracts for the sale of the Morococha concentrates. The terms of smelting contracts are confidential as specified within each contract, and are considered to be within industry norms.

 

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3.8.3 Environmental Considerations

The single largest environmental liability identified at the Morococha operations is the Morococha share of the proposed Kingsmill tunnel water treatment plant. Argentum’s defined share of this liability is 12.3%. In addition to the Kingsmill tunnel discharge, Argentum also retains a 21.01% share of responsibility for mitigation of the Huascacocha Lake tailings beach, where tailings have been discharged since 1960. An estimate of the mitigation costs of these liabilities has been included in the economic analysis. The final site closure cost estimate is $8.59 million, and an additional $3.35 million is included in the economic analysis for concurrent reclamation.

3.8.4 Taxes and Royalties

The corporate tax rate on income in Peru is 30%. In addition, there is an 8% employee profit sharing tax, which is deductible from income for the purposes of calculating net income tax, thereby resulting in an effective tax rate on Morococha income of 35.6%. Also, a 1.0% royalty is payable to the government of Peru on the first $60 million of revenue, with a 2% royalty applied to the balance of revenue generated. All taxes and royalties are included in the economic analysis.

3.8.5 Capital and Operating Cost Estimates

Sustaining capital expenditures totaling US$95 million are estimated to be required over the term of the LOM plan. These capital expenditures are necessary in order to maintain the overall planned production rate of 58,750 metric tonnes per month (705,000 tonnes per annum). Capital requirements to sustain production include expenditures to develop the mineral reserves, diamond drilling to upgrade mineral resources to mineral reserves, purchase of additional mining equipment as required by the LOM plan and schedule, and replacement of major equipment as it exceeds its economic life.

The total operating costs used in the LOM plan range from US$52.55 per tonne to US$63.52 per tonne of ore processed in a given year of the plan These estimated unit operating costs are projected from historical actual costs, and certain of these costs (such as mine site labour), are in Peruvian Soles. For the LOM plan, PAS has assumed that the Sol will remain near its current levels of 3.00 Soles per United States Dollar (USD). However, operating costs may well increase above projected levels due to fluctuating Sol/USD exchange rates, which as of the date of this Technical Report reflect a strengthening of the Sol compared to the USD.

3.8.6 Economic Analysis

A cash flow forecast was generated from the proven and probable mineral reserves stated as of December 31, 2006. The cash flow forecast determines net after-tax cash flows of the future production profile incorporating estimates for production rates, metallurgical performance, mined ore grades, direct mine operating costs, development costs, exploration drilling costs, general and administration costs, marketing costs, sustaining capital expenditures, and employee profit sharing and corporate income taxes. The undiscounted cash flow estimate is US$39.6 million on a 100% basis at the assumed metal prices (primarily silver @ $9.00 per ounce and zinc @ $2,100 per tonne).

 

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Sensitivity analyses were conducted for variances in metal prices, metal grades, capital costs and operating costs. These analyses show that the LOM plan is most sensitive to metal prices (where use of December 31, 2005 mineral reserve prices caused negative net profit values (NRV’s) for all discount rate assumptions), and mineral reserve grade, where 25% lower grades also resulted in negative NPV’s for all discount rate cases (0%, 10%, and 15%). Similarly, a 25% increase in operating costs also resulted in across the board negative NPV’s. The LOM plan is relatively insensitive to sustaining capital costs – increases of 25% still returned positive NPV’s for all discount cases. However, sensitivity analyses such as these must be considered as very cursory when applied to underground mines. To be meaningful, metal price, grade, and operating cost sensitivity factors should be applied as part of a redesign of each individual underground stope in the LOM Base Case (and also to potential stope blocks) in order to arrive at a valid estimate of the reductions and/or additions that result to the proven and probable mineral reserve base and subsequent cash flow analyses.

4.0 INTRODUCTION

PAS, the parent company of PASP asked its qualified senior personnel to review mineral resource and mineral reserve estimates for the silver-copper-lead-zinc deposit at the Morococha Mine in Peru, and to prepare a technical report to support the public disclosure of mineral reserve and mineral resource estimates as of December 31 2006, as required by NI 43-101. This Technical Report has been prepared in accordance with NI 43-101 and the format and contents of this Technical Report are intended to conform to Form 43-101 F1.

Mr. Martin Wafforn, P.Eng., PAS’ Vice President of Mine Engineering serves as the Qualified Person (“QP”) as that term is defined in NI 43-101 with respect to the mineral reserve statements described herein and sections 1, 2, 3, 4, 5, 6, 7, 8, 18, 19, 20, 21, 22, 23, 24 and 25 and Figures 4, 7, 8 and 9, contained in this Technical Report. Mr. Wafforn last visited the Morococha Mine site from October 2nd to October 4th, 2007 but travels to the site at least five times per year.

Dr. Michael Steinmann, P.Geo., PAS’ Senior Vice President of Exploration and Geology serves as the QP with respect to the mineral resource statements described herein and sections 1, 2, 3, 4, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23 and 24 and Figures 1, 2, 3, 5 and 6, contained in this Technical Report. Dr. Steinmann last visited the Morococha Mine site from October 2nd to October 4th, 2007 but travels to the site at least six times per year.

Resource Evaluation Inc. (“REI”) was retained by PAS to provide an independent Qualified Person’s review and Technical Report for the Morococha property, located in Yauli Province, Junin Department, Peru. REI’s work included a review of the December 31, 2006 mineral reserves for the property as stated by the Morococha Mine geology department. Mr. Donald Earnest, P.Geo., President of REI, served as the QP responsible for preparing this Technical Report. Mr. Earnest visited the Morococha operation site on October 3 and 4, 2007.

Mr. Elmer Ildefonso, a consulting mining engineer to PAS, assisted the mine geology department for the mineral resource evaluation and modeling of the Manto Italia ore body under the direct supervision of Dr. Steinmann.

Information and data for the preparation of the report were obtained from the Morococha Mine operations personnel during site visits carried out in several occasions during 2007 and were checked for accuracy by the authors of this Technical Report.

Sources of information and data contained in this Technical Report or used in its preparation are summarized in section 23 — References.

All tonnages stated in this report are dry metric tonnes (“DMT”) unless otherwise specified. Ounces pertaining to silver metal content are expressed in troy ounces. Precious metal grades are reported in grams per metric tonne (“g/t”).

 

-11-43-101 (PanAm)		Morococha Mine		11

5.0 RELIANCE ON OTHER EXPERTS

Mr. Donald Earnest, Mr. Martin Wafforn and Dr. Michael Steinmann, as authors of this Technical Report, have relied upon the references, opinions and statements contained within the references listed in Section 23. These reports, documents, and statements were found to be generally well organized and presented, and where applicable, the conclusions reached are judged reasonable.

It is assumed that technically qualified and competent persons prepared these reports and documents. It is the authors’ opinion that the materials referenced above are prepared and presented according to mining and engineering industry standards. The authors conclude that the contents are reasonably organized and presented and the conclusions reached are prudent.

The authors of this Technical Report have relied upon the land title opinion produced by Rodrigo, Elias & Medrano (a Peruvian law firm) dated December 20, 2007 and expressly disclaim information derived from the opinion. Rodrigo, Elias & Medrano is a well known and established Peruvian law firm that has a good-standing working relationship with PAS, having produced high quality work for PAS in the past.

6.0 PROPERTY DESCRIPTION AND LOCATION

The Morococha property is located in the Morococha district, Yauli Province, Junín Department, Peru, on the east side of the continental divide just below Ticlio summit, approximately 38km west of the city of La Oroya (see Figure 1). The district’s general co-ordinates are latitude 11º 36’S and longitude 76º 10’ W.

6.1 Mineral Tenure

PAS retained the Peruvian law firm of Rodrigo, Elías & Medrano — Abogados to provide a legal opinion regarding the mining properties (including surface rights) held by the Morococha operations. During the course of the review, it was determined that reviewing all of the 457 properties was not required and the review thus was limited to those 101 mining properties belonging to the Morococha operations from which production is currently taking place or has occurred (the “Mining Properties”). The report on the Mining Properties is dated December 20, 2007 and is relied upon by the authors of this Technical Report. Figures 2 and 3 show the surface rights and concession boundaries respectively for the Morococha operation.

6.1.1 General Provisions

The main legal features related to the requirements for maintaining the Mining Properties in good standing and a brief explanation of the main administrative requirements have been summarized from the legal report as follows:

 

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•		Under Peruvian law, the right to explore for and exploit minerals is granted by way of concessions. Pursuant to the Peruvian mining laws, any local or foreign individual or legal entity is required to hold a specific concession granted by the Ministry of Energy and Mines (“MEM”) to carry out any mining activity other than sampling, prospecting and/or trading in mining products or minerals of any type and condition. The exploration for and extraction of mineral substances from the ground or underground is governed by Peruvian mining laws;
•		Under the Peruvian mining laws, the system of concessions includes:

	•		Mining concessions, which grant their holders the right to explore and exploit the mineral resources, whether metallic or non-metallic, within the area conferred by the concession;
	•		Processing concessions, which grant the right to process minerals;
	•		General service concessions, which grant the right to render auxiliary services to one or more mining concessions;
	•		Mining transportation concessions, which grant the holders the right to operate a continuous mass transportation system of mineral products between one or more mining units.

•

A Peruvian mining concession is a property-related right; distinct and independent from the ownership of land on which it is located. Consequently, pursuant to Peruvian legislation, ownership or a possession title over the surface land should be negotiated with the corresponding landowners. The mining concessionaire has three options available in order to be able to conduct exploration or exploitation activities:

	i)		Purchase the corresponding surface land;
	ii)		Reach an agreement with landholders for its temporary use;
	iii)		Obtain a legal easement from the MEM.

		The term of a concession is indefinite, provided that related annual fees are duly paid. The rights manifested in a mining concession are protected against third parties, are transferable, chargeable and, in general, may be the subject of any transaction or contract. Mining concessions may be privately owned and no state participation is required. Buildings and other permanent structures used in a mining operation are considered real property accessories to the concession on which they are situated;
•		The concession grants to the concessionaire the right to perform, on an exclusive basis, certain mining activities within a duly determined area. All the concessions governed by the Peruvian mining laws should be registered with the Registry of Mining Rights, which forms part of the National System of Public Registers. They are also based on UTM coordinates and registered in the National Mining Cadastre, which is managed by the National Institute of Mining, Metallurgical and Geological Studies. Concession boundaries are not physically marked in the field.

 

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•		Concessions are irrevocable as long as the concession holder complies with the annual payment of the validity fee (US$3 per hectare) and penalties for not achieving minimum production requirements (US$100 per hectare per year) within six years following the year in which the respective concession is granted. If the minimum production is not reached, as of the first semester of the seventh year, the holder of the concession shall pay a US$6 penalty per hectare per year until such production is reached (the penalties increase to US$20 as of the twelfth year). It is possible to avoid payment of the penalty if evidence is presented to the mining authorities that an amount equal to ten times the applicable penalty or more has been invested in the concession. Non-compliance with any of these obligations for two consecutive years will result in the extinction of the concession. Any payment made the year following a year of non-compliance will apply to the immediate previous year;
•		To comply with the established work and production obligations, holders of more than one mining concession of the same type and nature may group them in economic administrative units, provided the concessions are located within the same 5-km surface radius, in the case of non-ferrous metallic minerals. The formation of such economic administrative units requires approval from the General Mining Directorate;
•		Concessions may be transferred, assigned and mortgaged. Any movable assets used in mining activities, as well as any minerals extracted and/or processed from such concessions that belong to the concessionaire may be pledged. Any and all of these transactions and contracts must be formalized through a Public Deed and registered before the Mining Public Registry for them to be enforceable against the State and third parties;
•		It is important to note that overlap between current and predecessor mineral titles is common in Peru as a result of a change to the Peruvian official system of granting mining concessions implemented in 1991, which is based on UTM coordinates. In cases where overlap exists, the older mining concessions have priority.
•		Administrative requirements include the filing of a document that provides information to the mining authorities on the activities performed on the mining property during the previous year;

6.1.2 Morococha Properties

In order to confirm and assess the 101 Mining Properties, the following information was reviewed in detail from the sources listed:

•		The status of the Mining Properties, as entered into the computerized system of the INGEMMENT (Instituto Nacional Geológico Minero y Metalúrgico);
•		The Public Registry records for each one of the Mining Properties;
•		The official list of mining rights updated to December 31, 2006 (“Padrón Minero”), published by the INGEMMET;
•		Information and documentation provided by PAS.

The opinions provided by the law firm of Rodrigo, Elías & Medrano – Abogados have been relied upon by the authors of this Technical Report, and these are summarized as follows:

 

-14-43-101 (PanAm)		Morococha Mine		14

1.		All of the 101 Mining Properties reviewed by the firm are in good standing, and as such, remain valid and in full force and effect, with no circumstances which are likely to give rise to the Mining Properties being declared extinguished by the Peruvian State, in the ordinary course of events;
2.		Mining concession titles have been granted with respect to all Mining Properties;
3.		There is a small degree of overlap between Morococha concessions and third party concessions. Similarly, there is some potential for blank (open) spaces between existing concessions, but in the case of Morococha these spaces would be small.;
4.		All titles to the Mining Properties except one have been registered with the Public Registry. Although the rights derived from the concession title exist and may be exercised by PAS, additional protection will be provided by the Public Registry when registration is completed. In addition, there are minor name changes for seven properties that have not been duly recorded with the Public Registry.
5.		Compañia Minera Argentum S.A. (Argentum) or Pan American Silver Peru S.A.C. are the current 100% registered titleholders of all the Mining Properties, except for twelve of the mining concessions where a number of third parties appear to have registered interests. Due to the time elapsed since such rights were granted (more than 50 years) and the lack of documentation available, it is not possible to determine whether or not such interests are valid and/or enforceable to date. In the event that the third parties or their successors could claim and obtain recognition of their respective interests, the creation of a legal mining partnership would be required. Under this scenario, the Morococha operations, being the largest single shareholder of each concession, should be appointed as general manager. These concessions and their corresponding ownership breakdowns are as follows:

	a)		Carmen – 1.4087 Hectares: 50% Compania Minera Argentum S.A, 50% third parties;
	b)		Felipina – 2.8172 Hectares: 50% Compania Minera Argentum S.A, 50% third parties;
	c)		Gravina – 3.9928 Hectares: AnuUnknown percentage Interest held by Compania Minera Argentum S.A.; Empresa Minera Natividad S.A, 42.84%, and an unknown percentage interest held by third parties;
	d)		Laura – 1.1067 Hectares: 50% Compania Minera Argentum S.A, 50% third parties;
	e)		Llapita – 3.0584 Hectares: 50% Compania Minera Argentum S.A, 50% third parties;
	f)		Manuelita– 1.4084 Hectares: 80% Compania Minera Argentum S.A, 20% third parties;
	g)		San Esteban – 2.8176 Hectares: 80% Compania Minera Argentum S.A, 20% third parties;
	h)		San Luis – 1.5848 Hectares: 50% Compania Minera Argentum S.A, 50% third parties;
	i)		Santa Maria – 1.5845 Hectares: 80% Compania Minera Argentum S.A, 20%, third parties;
	j)		Saturno – 2.9356 Hectares: 50% Compania Minera Argentum S.A, 50% third parties;
	k)		Scotland – 2.5953 Hectares: 50% Compania Minera Argentum S.A, 50% third parties;
	l)		Welevich – 1.4083 Hectares: 80% Compania Minera Argentum S.A, 20% third parties.

 

-15-43-101 (PanAm)		Morococha Mine		15

6.

Four Mining Properties (concessions) are registered in the name of third parties: San Nicolas – 1.4089 hectares, Begonia – 0.9754 hectares, Pachitea – 2.0792 hectares and Pachitea 3ra – 0.5474 hectares. Rodrigo, Elias & Medrano were not able to confirm the interest that Argentum (PAS) has in these Mining Properties. PAS has documentation from Corona and predecessor companies indicating PAS ownership of these four mining properties that require updating and formalizing in order to confirm PAS ownership.

7.

All Mining Properties (concessions) are free from liens or encumbrances in favor of third parties. However, certain Mining Properties are subject to assignment rights granted by former titleholders in favor of different entities some of which currently do not exist due to their extinction as legal entities. Registration of their termination is required in order for the assignment of rights not to appear to cloud the responsibilities of subsequent Mining Properties in the Public Registry, if in fact the assignment rights are still in force and effect. The concessions for which there may still be valid assignment rights recorded in the Public Registry are summarized as follows:

	•		Catalina
	•		Catinca
	•		Ruperto
	•		Codiciada 1A
	•		Codiciada 2A
	•		Danton
	•		Desdemona
	•		Triple Alianza
	•		Gorizia
	•		Manuelita
	•		Felipina
	•		Welevich
	•		Santa Maria
	•		Hernani
	•		Nudo Gordiano
	•		Josefina
	•		La Capitana
	•		La Codiciada
	•		La Yaulina
	•		Lealtad
	•		Maria Luisa
	•		Raul
	•		Roma
	•		San Esteban
	•		San Francisco
	•		Santa Catalina
	•		Santa Catalina 3A
	•		Scotland

 

-16-43-101 (PanAm)		Morococha Mine		16

8.

As discussed in Section 6.1.1, mining concessions are a real property right, different and independent from surface land rights. With respect to surface rights at the Morococha operations, Argentum (PAS) furnished to Rodrigo, Elias & Modreno several public and private documents evidencing its property and other similar rights over a number of lands required for conducting mining activities at the Morococha operations. The Real Property Public Registry reflects the registration of ownership rights for Argentum (PAS) to six portions of land located in the district of Morococha, Province of Yauli, Department of Junin, that were transferred in favor of Argentum (PAS), together with other Morococha assets, as per public deed of July 5, 2005 granted before the Notary of Public for Lima. The six portions of land include; Lota Camamento Dolores – 0.3020 hectares; Lote Campamento Maestranza – 0.0988 hectares; Lote Cajoncillo Bajo / Lote Urbano – 1.8402 hectares; Lote Cancha Relaves – 107.2206 hectares; Lote Campamento Morococha Antigua – 1.5838 hectares; Lote Campamento Vista Alegre – 0.7395 hectares.

9.		By means of a Public Deed dated May 26, 2003, executed before the Notary Public for Lima, Mr. Luis Benjamin Gutierrez Adrianzen, Centromin and Empresa Minera Natividad S.A. (“Natividad”) entered into a Right of Usufruct Easement and Surface Rights Agreement, according to which Centromin granted the facilities, and easement and surface rights on other superficial areas as detailed in such agreement. According to this agreement, Natividad has the right of way on the area covered by the easements, the right to fully use and build facilities on those other areas covered by the granted surface rights, and to use and modify the structure of the existing facilities granted in usufruct. The rights under the agreement shall remain valid and effective during the mine’s life and be subject to not interfering with the development of the Toromocho Project. Upon termination of this agreement, all granted rights shall revert in favor of Centromin, including all new facilities that may have been built at Empresa Natividad expense.
		Natividad was absorbed by Argentum (PAS) as a consequence of a merger of the companies executed by means of public deed dated July 5, 2005, the rights and obligations of Natividad established in the Right of Usufruct, Easement and Surface Rights Agreement dated May 26, 2003 between Natividad and Centromin were transferred to Argentum (PAS). Thus, Centromin has granted Argentum (PAS) a right to use certain of Centromin’s surface lands throughout the useful life of its mining operations, provided such use does not interfere with the development of a mine to exploit the Toromocha disseminated copper deposit, which is contained within certain of Argentum’s mining concessions and which overlies portions of the Morococha underground mining operations. Argentum began payments to Centromin of US$60,000 quarterly (an amount to be adjusted annually to account for inflation) commencing May 28, 2003, as consideration for this right.
		Peru Copper Inc., a copper mining company carrying on business in Peru, has been granted by Centromin the option to acquire mining concessions and surface rights in respect of the Toromocha property. In June 2007, Chinalco purchased all of the outstanding shares in Peru Copper Inc. PAS has had discussions with respect to negotiating resolution of surface rights issues that may arise between them in connection with their respective operations.

 

-17-43-101 (PanAm)		Morococha Mine		17

9.

The following mining concessions owned by Argentum (PAS) are subject to access easement rights, liens and / or encumbrances:

	•		Morococha 1-A
	•		Morococha 1-E
	•		Morococha 1-F
	•		Galera Segunda M.H.I.
	•		Galera M.H.
	•		Rey
	•		Maria Rosa
	•		Barranco 32
	•		Animas
	•		Avella
	•		Jupiter Tres
	•		Jupiter Cuatro
	•		Mellizos
	•		Rayo
	•		Numero Cuarentiocho
	•		El Barranco

A summary of all Mining Properties (concessions) that cover the Morococha operations is shown in Tables 6-1 through
6-5.

 

-18-43-101 (PanAm)		Morococha Mine		18

Table 6-1: List of Morococha Concessions

AQCUIRY

Nº

CODE

CONCESION

HECTARES

LETTER

ZONE

TITLE

DATE

STATE

1

08012129X01

10 DE JULIO

9.9831

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

6/25/1942

D.M. Titulado D.L. 109

2

08021979X01

ACAYA-S.R.

5.9973

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/2/1981

D.M. Titulado D.L. 109

3

08002033Y01

ADELANTE

1.0487

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

4/23/1906

D.M. Titulado D.L. 109

4

08001038Y01

ADRIANA

1.4086

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1887-03-04

D.M. Titulado D.L. 109

5

08000614Y01

AGATA

2.8166

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1893-05-19

D.M. Titulado D.L. 109

6

08003388Y01

AGATA SEGUNDA

0.0181

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/26/1930

D.M. Titulado D.L. 109

7

08001049Y01

AJUSTADA

2.8170

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1899-03-15

D.M. Titulado D.L. 109

8

08002558X01

ALBERTO

0.6420

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

4/23/1906

D.M. Titulado D.L. 109

9

08014142X01

ALEJANDRO

1.1830

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

6/14/1951

D.M. Titulado D.L. 109

10

08001290Y01

ALERTA

9.9804

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

4/2/1900

D.M. Titulado D.L. 109

11

08001036Y01

ALIANZA

5.6428

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1884-12-23

D.M. Titulado D.L. 109

12

08001466Y01

AMPHITRITE

1.7313

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

6/24/1901

D.M. Titulado D.L. 109

13

08002303Y01

AMPLIACION 2A

1.9962

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/16/1907

D.M. Titulado D.L. 109

14

08022468X01

ANA LUISA S.R.

585.1791

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/14/1984

D.M. Titulado D.L. 109

15

08022463X01

ANA MARIA S.R.

656.8239

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/2/1984

D.M. Titulado D.L. 109

16

08001053Y01

ANGELICA

0.1330

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1899-08-14

D.M. Titulado D.L. 109

17

08000685X01

ANIMAS

4.2259

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/17/1979

D.M. Titulado D.L. 109

18

0823079AX01

AÑO NUEVO

21.9008

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/19/1989

D.M. Titulado D.L. 109

19

08021959X01

ARAPA S.R.

30.0004

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/2/1981

D.M. Titulado D.L. 109

20

08001482Y01

ATLANTE

3.9385

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

10/14/1902

D.M. Titulado D.L. 109

21

08001212Y01

AURORA

4.2249

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1894-10-29

D.M. Titulado D.L. 109

22

08002289Y01

AURORA

5.9907

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/6/1906

D.M. Titulado D.L. 109

23

08010041X01

AURORA

0.2429

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/20/1929

D.M. Titulado D.L. 109

24

08009725X01

AVELLA

1.9952

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

4/20/1928

D.M. Titulado D.L. 109

25

08001551X01

BAJAZET

1.0019

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/15/1904

D.M. Titulado D.L. 109

26

08013916X01

BARBARITA

3.9929

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/8/1950

D.M. Titulado D.L. 109

27

08021210X01

BARBAS 4

836.7675

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

10/30/1979

D.M. Titulado D.L. 109

28

08021211X01

BARBAS 5

0.9054

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

10/30/1979

D.M. Titulado D.L. 109

29

0821211AX01

BARBAS 5A

548.7852

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

10/30/1979

D.M. Titulado D.L. 109

30

08003420Y01

BARRANCO

0.0068

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/25/1927

D.M. Titulado D.L. 109

31

08010456X01

BARRANCO 27

1.1416

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

6/6/1934

D.M. Titulado D.L. 109

32

08010538X01

BARRANCO 32

3.9235

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1/8/1935

D.M. Titulado D.L. 109

33

08003421Y01

BARRANCO Nº 26

1.9962

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

7/1/1931

D.M. Titulado D.L. 109

34

08010762X01

BARRANCO Nº 30

5.9882

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

10/16/1935

D.M. Titulado D.L. 109

35

08010760X01

BARRANCO Nº 31

5.9872

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

10/16/1935

D.M. Titulado D.L. 109

36

08002555X01

BERNARDO

1.4155

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

4/23/1906

D.M. Titulado D.L. 109

37

08001959Y01

BOER

4.2264

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

7/4/1900

D.M. Titulado D.L. 109

38

08002554X01

BRILLANTINA

2.6269

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

4/23/1906

D.M. Titulado D.L. 109

39

08002306Y01

BRUJULITA

0.5578

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/4/1906

D.M. Titulado D.L. 109

40

08001407Y01

BRUNHILDE

4.2258

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/15/1900

D.M. Titulado D.L. 109

41

08002277Y01

BULA

2.2054

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/19/1907

D.M. Titulado D.L. 109

42

08019778X01

CAJA DE AHORROS

1.9963

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

10/11/1971

D.M. Titulado D.L. 109

43

08003203X01

CANDADO

0.1318

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/4/1906

D.M. Titulado D.L. 109

44

08001026Y01

CARMEN

1.4087

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1899-07-16

D.M. Titulado D.L. 109

45

08012181X01

CARMEN ADELA

51.9077

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/16/1942

D.M. Titulado D.L. 109

46

08001044Y01

CARMENCITA

1.4085

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1889-01-11

D.M. Titulado D.L. 109

47

08013449X01

CAROLINE

3.9930

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/29/1949

D.M. Titulado D.L. 109

48

08013117X01

CAROLITA

17.9662

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/5/1947

D.M. Titulado D.L. 109

 

-19-43-101(PanAm)		Morococha Mine		19

AQCUIRY

Nº

CODE

CONCESION

HECTARES

LETTER

ZONE

TITLE

DATE

STATE

49

08003467Y01

CATALINA

2.6448

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/8/1933

D.M. Titulado D.L. 109

50

08002109Y01

CATINCA

1.5429

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1/20/1904

D.M. Titulado D.L. 109

51

010169295

CENTROMIN 20

500.0000

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1/2/1995

D.M. Titulado D.L. 708

52

08002734Y01

CHAPANA

0.3385

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/25/1954

D.M. Titulado D.L. 109

53

08003207X01

CHAVETA

0.0896

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/4/1906

D.M. Titulado D.L. 109

54

08003133Y01

CHIARA

1.9185

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/13/1927

D.M. Titulado D.L. 109

55

08021091X01

CIPRIANA

13.9729

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/17/1979

D.M. Titulado D.L. 109

56

08003203Y01

CLARA

3.9922

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

3/2/1927

D.M. Titulado D.L. 109

57

08001040Y01

CLARISA

2.8168

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1889-07-24

D.M. Titulado D.L. 109

58

08021810X01

CLAUDIA

2.0001

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/19/1980

D.M. Titulado D.L. 109

59

08002304Y01

CLAVITO

0.4958

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/4/1906

D.M. Titulado D.L. 109

60

08001573Y01

CLEO

1.3164

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

3/17/1903

D.M. Titulado D.L. 109

61

08021960X01

CLOTILDE S.R.

3.9920

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/2/1981

D.M. Titulado D.L. 109

62

08001690Y01

CODICIADA 1A

1.4521

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/19/1901

D.M. Titulado D.L. 109

63

08001608Y01

CODICIADA 2A

1.9969

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/19/1901

D.M. Titulado D.L. 109

64

08001043Y01

COLORADA

2.8149

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1889-07-15

D.M. Titulado D.L. 109

65

08001034Y01

CONCORDIA

1.4086

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/20/1984

D.M. Titulado D.L. 109

66

0804352AY01

CONDENADO 1

42.3281

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

67

0804355FY01

CONDENADO 10

1.2813

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

68

0804357AY01

CONDENADO 11

0.9946

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

69

0804357BY01

CONDENADO 12

0.7127

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

70

0804357CY01

CONDENADO 13

0.9126

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

71

0804357DY01

CONDENADO 14

1.1688

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

72

0804357EY01

CONDENADO 15

3.0424

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

73

0804357FY01

CONDENADO 16

3.5575

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

74

0804352BY01

CONDENADO 2

15.2163

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

75

0804352CY01

CONDENADO 3

4.6447

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

76

0804352DY01

CONDENADO 4

5.8089

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

77

0804352EY01

CONDENADO 5

6.4503

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

78

0804352FY01

CONDENADO 6

8.1042

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

79

0804352GY01

CONDENADO 7

4.1263

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

80

0804354IY01

CONDENADO 8

0.1085

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

81

0804355EY01

CONDENADO 9

0.1927

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/11/1992

D.M. Titulado D.L. 109

82

08020929X01

CONFLAGRACION

5.0352

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/14/1979

D.M. Titulado D.L. 109

83

08001472Y01

CONTINUACION DE SAN MIGUEL

1.9962

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

4/6/1901

D.M. Titulado D.L. 109

84

010144303

CORONA IV 2003

200.0000

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

4/22/2003

D.M. Titulado D.L. 708

85

010144203

CORONA1 2003

100.0000

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

4/22/2003

D.M. Titulado D.L. 708

86

08004156Y01

COSMOPOLITA

1.4087

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/17/1979

D.M. Titulado D.L. 109

87

08003202X01

CRISTINA

0.0675

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/4/1906

D.M. Titulado D.L. 109

88

010091400

CUÑA M.C.

4.1893

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/2/2000

D.M. Titulado D.L. 708

89

08001953Y01

CYBELE

1.1122

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1/19/1906

D.M. Titulado D.L. 109

90

010119204

DANALLIS

68.4030

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/3/2004

D.M. Titulado D.L. 708

91

08001428X01

DANTON

0.5593

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/25/1903

D.M. Titulado D.L. 109

92

08001976Y01

DECIMA

0.4824

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1/12/1906

D.M. Titulado D.L. 109

93

08021919X01

DEMASIA DIANA

0.7099

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/7/1981

D.M. Titulado D.L. 109

94

08021920X01

DEMASIA ELVIRA

4.7797

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/7/1981

D.M. Titulado D.L. 109

95

08021921X01

DEMASIA LIMA

1.1915

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/7/1981

D.M. Titulado D.L. 109

96

08021925X01

DEMASIA LUCILITA

0.3992

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/7/1981

D.M. Titulado D.L. 109

97

08021922X01

DEMASIA MARIANITA

2.1443

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/7/1981

D.M. Titulado D.L. 109

98

08021924X01

DEMASIA MARTHA

4.2610

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/7/1981

D.M. Titulado D.L. 109

 

-20-43-101(PanAm)		Morococha Mine		20

AQCUIRY

Nº

CODE

CONCESION

HECTARES

LETTER

ZONE

TITLE

DATE

STATE

99

010075607

DEMASIA PAS 1

100.0000

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1/11/2007

D.M. en trámite D.L. 708

100

010075707

DEMASIA PAS 2

100.0000

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1/11/2007

D.M. en trámite D.L. 708

101

010075907

DEMASIA PAS 3

100.0000

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1/11/2007

D.M. en trámite D.L. 708

102

010075807

DEMASIA PAS 4

100.0000

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1/11/2007

D.M. en trámite D.L. 708

103

08021928X01

DEMASIA PATY

0.8446

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/24/1981

D.M. Titulado D.L. 109

104

08021957X01

DEMASIA REYNALDO

1.5815

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/7/1981

D.M. Titulado D.L. 109

105

08021926X01

DEMASIA SANTA BARBARA

0.0998

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/7/1981

D.M. Titulado D.L. 109

106

08021918X01

DEMASIA SUSANITA

1.0291

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/7/1981

D.M. Titulado D.L. 109

107

08001312Y01

DESDEMONA

1.4084

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1895-06-14

D.M. Titulado D.L. 109

108

08000970X01

DIANA

1.5539

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

10/27/1902

D.M. Titulado D.L. 109

109

08021622X01

DIANA 1980

5.9897

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/19/1980

D.M. Titulado D.L. 109

110

08000861Y01

DINA

5.6347

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1888-01-16

D.M. Titulado D.L. 109

111

08002961X01

DIOS DA

0.8970

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/15/1906

D.M. Titulado D.L. 109

112

08001961Y01

DON CARLOS

7.3945

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

7/4/1900

D.M. Titulado D.L. 109

113

08021957X02

DON LUNES-S.R.

3.7364

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/2/1981

D.M. Titulado D.L. 109

114

08021965X01

DON MIERCOLES S.R.

1.0600

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/2/1981

D.M. Titulado D.L. 109

115

08001960Y01

DON RICARDO

4.2252

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

7/4/1900

D.M. Titulado D.L. 109

116

010191799

EDELMIRA AM

2.6206

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/3/1999

D.M. Titulado D.L. 708

117

08003400Y01

EDELMIRA DOS

0.0711

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/26/1930

D.M. Titulado D.L. 109

118

08001285Y01

EDUARDO

7.9846

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1/22/1901

D.M. Titulado D.L. 109

119

08001839Y01

EL CONDOR

0.8148

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/5/1904

D.M. Titulado D.L. 109

120

08001469Y01

EL DORADITO

1.5424

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

3/13/1902

D.M. Titulado D.L. 109

121

08001291Y01

EL DORADO

1.9961

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

4/2/1900

D.M. Titulado D.L. 109

122

08001604Y01

EL GUARDIAN

3.4698

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

6/23/1902

D.M. Titulado D.L. 109

123

08002402Y01

EL LOQUITO

0.1745

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/4/1906

D.M. Titulado D.L. 109

124

08001332Y01

EL MAJADERO

8.4519

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/15/1900

D.M. Titulado D.L. 109

125

08003044Y01

EL MEK

5.9892

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/21/1922

D.M. Titulado D.L. 109

126

08012293X01

EL MILAGRO

5.9893

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1/4/1907

D.M. Titulado D.L. 109

127

08001295Y01

EL PERNO

1.9359

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

3/12/1901

D.M. Titulado D.L. 109

128

08002276Y01

EL SEÑOR QUE SUDA

3.9929

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/7/1946

D.M. Titulado D.L. 109

129

08010036X01

EL TRIANGULO

0.9954

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/9/1929

D.M. Titulado D.L. 109

130

08020855X01

ELECTRA 11

2.2805

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

3/14/1979

D.M. Titulado D.L. 109

131

08020851X01

ELECTRA 14

2.1927

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

3/14/1979

D.M. Titulado D.L. 109

132

08020853X01

ELECTRA 15

1.4789

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

3/14/1979

D.M. Titulado D.L. 109

133

08004185Y01

ELECTRA Nº 1

1.4085

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/15/1978

D.M. Titulado D.L. 109

134

08020740X01

ELECTRA Nº 10

1.9961

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/21/1978

D.M. Titulado D.L. 109

135

08020852X01

ELECTRA Nº 12

1.2971

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

3/14/1979

D.M. Titulado D.L. 109

136

08020854X01

ELECTRA Nº 13

0.3172

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

3/14/1979

D.M. Titulado D.L. 109

137

08021275X01

ELECTRA Nº 17

1.9962

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/30/1979

D.M. Titulado D.L. 109

138

08021276X01

ELECTRA Nº 18

0.8994

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/30/1979

D.M. Titulado D.L. 109

139

0821276AX02

ELECTRA Nº 18-A (FRACCIONADO)

5.4892

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/30/1979

D.M. Titulado D.L. 109

140

08021274X01

ELECTRA Nº 19

4.9906

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/30/1979

D.M. Titulado D.L. 109

141

08020713X01

ELECTRA Nº 2

3.9885

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/15/1978

D.M. Titulado D.L. 109

142

08020714X01

ELECTRA Nº 3

5.6340

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/15/1978

D.M. Titulado D.L. 109

143

08020715X01

ELECTRA Nº 4

1.8152

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/15/1978

D.M. Titulado D.L. 109

144

08020716X01

ELECTRA Nº 5

3.1465

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/15/1978

D.M. Titulado D.L. 109

145

08020718X01

ELECTRA Nº 7

3.1936

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/15/1978

D.M. Titulado D.L. 109

146

08020719X01

ELECTRA Nº 8

4.1918

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/15/1978

D.M. Titulado D.L. 109

147

08021961X01

ELIAS-S.R.

17.9987

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/2/1981

D.M. Titulado D.L. 109

 

-21-43-101(PanAm)		Morococha Mine		21

AQCUIRY

Nº

CODE

CONCESION

HECTARES

LETTER

ZONE

TITLE

DATE

STATE

148

08002288Y01

ELISA

1.9964

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/24/1906

D.M. Titulado D.L. 109

149

08021092X01

ELVIRA

1.9962

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/17/1979

D.M. Titulado D.L. 109

150

08021983X01

ENREDO

4.8586

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/2/1981

D.M. Titulado D.L. 109

151

08022278X01

ENREDO-I

3.9668

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/10/1982

D.M. Titulado D.L. 109

152

08001288Y01

ESCARAMUZA

1.9961

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/24/1900

D.M. Titulado D.L. 109

153

08000841Y01

ESPERANZA

1.4086

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1896-12-22

D.M. Titulado D.L. 109

154

08000865Y01

ESPERANZA

1.4084

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1883-12-20

D.M. Titulado D.L. 109

155

08002267Y01

ESTHERITA

5.9893

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/21/1947

D.M. Titulado D.L. 109

156

08001047Y01

ESTRELLA

2.8168

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1898-05-09

D.M. Titulado D.L. 109

157

08013810X01

EUGENIO

1.9962

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

3/8/1907

D.M. Titulado D.L. 109

158

08005649X01

EUGENITA

1.1582

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

7/25/1912

D.M. Titulado D.L. 109

159

08022780X01

EXALTACION S.R.

1.3556

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/4/1987

D.M. Titulado D.L. 109

160

0822780AX01

EXALTACION SR-A(FRACCIONADO)

3.8758

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/4/1987

D.M. Titulado D.L. 109

161

08022647X01

EXPLORAR Nº 3-M.H.

399.2416

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/2/1986

D.M. Titulado D.L. 109

162

08022981X01

EXPLORAR Nº 3-M.H.-I

38.0114

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/12/1988

D.M. Titulado D.L. 109

163

08001050Y01

FEDERICO

1.4083

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1899-03-11

D.M. Titulado D.L. 109

164

08012290X01

FELICIDAD

19.9638

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

7/1/1927

D.M. Titulado D.L. 109

165

08001111Y01

FELIPINA

2.8172

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1893-08-12

D.M. Titulado D.L. 109

166

08001297Y01

FRINE

1.9931

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/23/1900

D.M. Titulado D.L. 109

167

08002646X01

FRIOLERA

11.9776

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

6/1/1906

D.M. Titulado D.L. 109

168

08022738X01

GALERA SEGUNDA M.H.I.

0.7732

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

12/19/1986

D.M. Titulado D.L. 109

169

08022580X01

GALERA SEGUNDA-M.H.

0.9727

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/19/1985

D.M. Titulado D.L. 109

170

08022514X01

GALERA-M.H

13.6958

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/19/1984

D.M. Titulado D.L. 109

171

08003192Y01

GENOVA A

5.9882

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

6/1/1925

D.M. Titulado D.L. 109

172

08023173X01

GENOVA M.G.

5.0213

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/30/1990

D.M. Titulado D.L. 109

173

08022621X01

GENOVA-A-Nº 1

23.9558

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1/22/1986

D.M. Titulado D.L. 109

174

08022645X01

GENOVA-A-Nº 2

19.9615

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

4/23/1986

D.M. Titulado D.L. 109

175

08013108X01

GENOVEVA

11.9774

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

8/28/1947

D.M. Titulado D.L. 109

176

08014172X01

GERMAN

2.4004

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

7/6/1953

D.M. Titulado D.L. 109

177

08002733Y01

GORIZIA

2.6192

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/22/1915

D.M. Titulado D.L. 109

178

0822776AX01

GRACIELA M.S.R.

0.6821

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/4/1987

D.M. Titulado D.L. 109

179

08021982X01

GRACIELA S.R.

30.6601

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/2/1981

D.M. Titulado D.L. 109

180

08001708Y02

GRAN SAN MIGUEL DE PLATA

23.9547

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

10/24/1902

D.M. Titulado D.L. 109

181

08001118Y01

GRICELA

2.8017

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1899-09-12

D.M. Titulado D.L. 109

182

08000840Y01

GRIMALDA

1.4091

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1896-11-19

D.M. Titulado D.L. 109

183

08001497Y01

GRIMHILDE

2.5806

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/26/1902

D.M. Titulado D.L. 109

184

08003379Y01

GRIMHILDE SEGUNDA

0.0265

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

2/26/1930

D.M. Titulado D.L. 109

185

08023125X01

GUILLERMO III J.C.

9.9800

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

5/30/1990

D.M. Titulado D.L. 109

186

08001294Y01

GUILLERMO TELL

3.4912

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1/22/1901

D.M. Titulado D.L. 109

187

08001549Y01

HERNANI

1.9965

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

10/16/1901

D.M. Titulado D.L. 109

188

08001555Y01

HILDEGARD

2.0796

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

3/6/1903

D.M. Titulado D.L. 109

189

08002722Y01

HUAIRURO

3.9926

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

11/18/1915

D.M. Titulado D.L. 109

190

08021958X01

HUARASINA S.R.

49.0584

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/2/1981

D.M. Titulado D.L. 109

191

08021970X01

HURACAN S.R.

0.3835

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/2/1981

D.M. Titulado D.L. 109

192

08021968X01

INDECISO S.R.

12.4735

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

9/2/1981

D.M. Titulado D.L. 109

193

08001039Y01

INESPERADA

1.4083

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1896-09-22

D.M. Titulado D.L. 109

194

08001620Y01

ISABEL

0.8361

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

3/10/1902

D.M. Titulado D.L. 109

195

08001498Y01

ISOLDE

1.4559

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

7/8/1902

D.M. Titulado D.L. 109

196

08001391Y01

ITALIA

2.1589

24-K

18

COMPAÑIA MINERA ARGENTUM S.A.

1887-10-24

D.M. Titulado D.L. 109