LETTERS TO THE EDITOR — Placer Dome dispels rumor

Your stock market report (T.N.M., Oct. 5/92) claims “the word on the street” is that Placer Dome “is planning to put an end to exploration in Canada in favor of overseas projects.”

Nothing could be further from the truth. We remain committed to exploration in Canada and to beneficial relationships with the Canadian junior companies with which we do business.

We maintain seven exploration offices in Canada, employing 64 full-time and contract employees, compared with seven offices in the U.S., four in Australia, and one each in the United Kingdom, Chile, Mexico and Venezuela. In dollar terms, our 1992 budget of about $60 million is weighted toward international projects, but our expenditures in Canada are significant and will remain so.

E.T. Kimura

Manager, Canadian Exploration

Placer Dome

Vancouver