BMO Capital Markets Comments on Pan American Silver

BMO Capital Markets provided color on Pan American Silver

and Orko Silver in a research report published today. BMO Capital Markets has previously given Pan American Silver an Outperform rating and and $45 price target. In the report, BMO Capital Markets states, "PAAS and OK released the results of a Preliminary Assessment (PA) for the La Preciosa project in Mexico. The PA outlines a conventional 5ktpd open pit andunderground mine with annual production of 6.8Moz silver and 11.8koz goldover 12 years, with by-product cash costs of 11.84/oz silver. Development capital is estimated at US$270M, with sustaining capital estimated at US$116Mover the life of operations." Shares of Pan American Silver were trading at $27.99 at the time of posting, down 3.75% from Wednesday's market close.