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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001130319-02-001324.txt : 20021119
<SEC-HEADER>0001130319-02-001324.hdr.sgml : 20021119
<ACCEPTANCE-DATETIME>20021119164120
ACCESSION NUMBER:		0001130319-02-001324
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20021118
FILED AS OF DATE:		20021119

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAN AMERICAN SILVER CORP
		CENTRAL INDEX KEY:			0000771992
		STANDARD INDUSTRIAL CLASSIFICATION:	SILVER ORES [1044]
		IRS NUMBER:				999999999
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13727
		FILM NUMBER:		02833391

	BUSINESS ADDRESS:	
		STREET 1:		1500-625 HOWE STREET
		CITY:			VANCOUVER BC CANADA
		STATE:			A1
		ZIP:			V6C 2T6

	MAIL ADDRESS:	
		STREET 1:		1500 625 HOWE ST
		CITY:			VANCOUVER BC V6C 2T6
		STATE:			A1
		ZIP:			999999999

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAN AMERICAN MINERALS CORP
		DATE OF NAME CHANGE:	19950608
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>o08284e6vk.txt
<DESCRIPTION>FORM 6-K
<TEXT>
<PAGE>


                                    FORM 6-K




                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                        REPORT OF FOREIGN PRIVATE ISSUER



                    PURSUANT TO RULE 13a - 16 OR 15d - 16 OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                              For November 18, 2002




                            PAN AMERICAN SILVER CORP.
                             1500 - 625 HOWE STREET
                                 VANCOUVER, B.C.
                                     V6C 2T6




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

                        Form 20-F          Form 40-F   X
                                  -----              -----

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         No   X
                                   -----       -----

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):  82-_________.


<PAGE>



                                   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: November 18, 2002                By: /s/ Gordon Jang
                                           -------------------------------------
                                           Gordon Jang,
                                           Controller,
                                           and Corporate Secretary


                                     - 2 -

<PAGE>


EXHIBITS INCLUDED AS PART OF THIS REPORT

Exhibit
  No.     Document
- -------   --------

 10.1     Material Change Report under Section 85(1) of the Securities Act
          (British Columbia) dated November 18, 2002.

 99.1     Press Release dated November 8, 2002.



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>o08284exv10w1.txt
<DESCRIPTION>MATERIAL CHANGE REPORT
<TEXT>
<PAGE>

                                                                    Exhibit 10.1


This is the form of a material change report required under section 85(1) of the
Securities Act and section 151 of the Securities Rules.

                                 BC FORM 53-901F
                              (PREVIOUSLY FORM 27)

                                 SECURITIES ACT

                          MATERIAL CHANGE REPORT UNDER
             SECTION 85(1) OF THE SECURITIES ACT (BRITISH COLUMBIA)
             AND SIMILAR PROVISIONS OF OTHER APPLICABLE LEGISLATION


ITEM 1.     REPORTING ISSUER

            Pan American Silver Corp. (the "COMPANY")
            1500 - 625 Howe Street
            Vancouver, BC  V6E 2T6

ITEM 2.     DATE OF MATERIAL CHANGE

            November 8, 2002

ITEM 3.     PRESS RELEASE

            A press release was issued by the Company on November 8, 2002 at
            Vancouver, British Columbia and distributed through the facilities
            of Canada NewsWire.

ITEM 4.     SUMMARY OF MATERIAL CHANGE

            The Company announced that it has entered into two agreements with
            Volcan Compania Minera S.A.A. ("VOLCAN") regarding two large
            silver-bearing stockpiles located adjacent to Volcan's Cerro de
            Pasco operation in central Peru. The first agreement grants the
            Company the right to acquire a 60% interest in the stockpiles by
            spending US$2 million on the project over a three-year period. The
            second agreement grants the Company the right to mine and sell
            600,000 tonnes of the richest silver stockpiles to a nearby smelter,
            which will use them as flux in its smelting operation. A ten-year
            contract has been negotiated with the smelter and stockpiles sales
            are expected to average approximately 46,000 tonnes per year
            resulting in an annual silver production of approximately 500,000
            ounces at an estimated total production cost of less than US$2 per
            ounce. The purchase price will be US$4 million, payable in common
            shares of the Company valued at current market prices, plus a
            one-third production bonus to Volcan after the Company has recovered
            its acquisition costs, operating costs, deemed taxes and interest on
            the acquisition cost.

<PAGE>

ITEM 5.     FULL DESCRIPTION OF MATERIAL CHANGE

            The Company announced that it has entered into two agreements with
            Volcan, a major Peruvian mining company regarding two large
            silver-bearing stockpiles located adjacent to Volcan's Cerro de
            Pasco operation in central Peru, about 36 km from the Company's
            Huaron mine.

            The first agreement grants the Company the right to acquire a 60
            percent interest in the stockpiles by spending US$2 million on the
            project over a three-year period. In the twelve months following
            this period, the Company can increase its interest to 100 percent by
            paying Volcan US$3 million and granting Volcan a seven percent
            royalty on commercial production from the stockpiles. The first
            phase of the Company's work will be a detailed definition drilling
            program to confirm historic resources estimated by Volcan to be 26
            million tonnes of stockpiles grading 227 g/t silver (a contained
            silver resource of more than 180 million ounces). The second phase
            will comprise detailed metallurgical studies and economic evaluation
            designed to determine the economics of commercial extraction.
            Historic studies indicate that a silver price in excess of US$6.50
            would be required to profitably recover the contained silver. The
            Company's work will investigate this in detail and seek to improve
            project economics.

            The second agreement grants the Company the right to mine and sell
            600,000 tonnes of the richest silver stockpiles to a nearby smelter,
            which will use them as flux in its smelting operation. A ten-year
            contract has been negotiated with the smelter and stockpile sales
            are expected to average approximately 46,000 tonnes per year
            resulting in annual silver production of approximately 500,000
            ounces at an estimated total production cost of less than US$2 per
            ounce. The purchase price will be US$4.0 million, payable in the
            Company's common shares valued at current prices, plus a one-third
            production bonus to Volcan after the Company has recovered its
            acquisition costs, operating costs, deemed taxes and interest on the
            acquisition cost.


ITEM 6.     RELIANCE ON SECTION 85(2) OF THE ACT

            This report is not being filed on a confidential basis.

ITEM 7.     OMITTED INFORMATION

            There are no significant facts required to be disclosed herein which
            have been omitted.

ITEM 8.     SENIOR OFFICERS

            For Further information, please contact:

            Name:         Gordon Jang
            Office:       Controller and Corporate Secretary
            Telephone:    (604) 684-1175


                                     - 2 -


<PAGE>

ITEM 9.     STATEMENT OF SENIOR OFFICER

            The foregoing accurately discloses the material change referred to
            herein.


            DATED at Vancouver, British Columbia, this ___ day of November,
            2002.




                           /s/ Gordon Jang
                           -----------------------------------------------------
                           Signature of a senior officer of the reporting issuer

                           Gordon Jang, Controller and Corporate Secretary


                                     - 3 -

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>o08284exv99w1.txt
<DESCRIPTION>PRESS RELEASE DATED NOVEBER 8, 2002
<TEXT>
<PAGE>


                                                                    Exhibit 99.1

                                                (PAN AMERICAN SILVER CORP. LOGO)

                                  NEWS RELEASE

November 8, 2002

            PAN AMERICAN ACQUIRES PERUVIAN SILVER ASSETS FROM VOLCAN

Vancouver, British Columbia ...(all currency amounts in US dollars)... Pan
American Silver Corp. (NASDAQ: PAAS; TSE: PAA) announces that it has entered
into two agreements with Volcan Compania Minera, a major Peruvian mining company
regarding two large silver-bearing stockpiles located adjacent to Volcan's Cerro
de Pasco operation in central Peru, about 36 km from Pan American's Huaron mine.

The first agreement grants Pan American the right to acquire a 60 percent
interest in the stockpiles by spending $2 million on the project over a
three-year period. In the twelve months following this period, Pan American can
increase its interest to 100 percent by paying Volcan $3 million and granting
Volcan a seven percent royalty on commercial production from the stockpiles. The
first phase of Pan American's work will be a detailed definition drilling
program to confirm historic resources estimated by Volcan to be 26 million
tonnes of stockpiles grading 227 g/t silver (a contained silver resource of more
than 180 million ounces). The second phase will comprise detailed metallurgical
studies and economic evaluation designed to determine the economics of
commercial extraction. Historic studies indicate that a silver price in excess
of $6.50 would be required to profitably recover the contained silver. Pan
American's work will investigate this in detail and seek to improve project
economics.

The second agreement grants Pan American the right to mine and sell 600,000
tonnes of the richest silver stockpiles to a nearby smelter, which will use them
as flux in its smelting operation. A ten-year contract has been negotiated with
the smelter and stockpile sales are expected to average approximately 46,000
tonnes per year resulting in annual silver production of approximately 500,000
ounces at an estimated total production cost of less than $2 per ounce. The
purchase price will be $4.0 million, payable in Pan American common shares
valued at current prices, plus a one-third production bonus to Volcan after Pan
American has recovered its acquisition costs, operating costs, deemed taxes and
interest on the acquisition cost.

Ross Beaty, Pan American's Chairman and CEO, said, "This set of agreements will
give Pan American an excellent return from increased very low cost silver
production over an estimated ten-year period. In addition, Pan American will
hold a low-cost right to acquire what is probably the largest aboveground
stockpile of silver-bearing mineralized material in the world, and time to
conduct a thorough evaluation of the potential for commercial production from
this material. These deals satisfy both of our corporate objectives: they will
increase our immediate low-cost silver production, and they will give our
shareholders great leverage to the silver price by materially increasing our
silver resource holdings that can be produced from if silver prices increase in
the future."

                                     - End -

Ross J. Beaty, Chairman and C.E.O. or Anthony Hawkshaw, C.F.O.

CAUTIONARY NOTE

Some of the statements in this news release are forward-looking statements, such
as 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. Actual results and developments
may differ materially from those contemplated by these statements 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.


               1500-625 HOWE STREET, VANCOUVER, BC CANADA V6C 2T6
                       TEL 604.684.1175 FAX 604.684.0147
                            WWW.PANAMERICANSILVER.COM

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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