As filed with the Securities and Exchange Commission on August 6, 2015
Registration No. 333-

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

 
FORM S-8
REGISTRATION STATEMENT
UNDER THE
SECURITIES ACT OF 1933

 
PAN AMERICAN SILVER CORP.
(Exact name of Registrant as specified in its charter)
 
British Columbia
 
Not Applicable
(Jurisdiction of Incorporation)
 
(I.R.S. Employer Identification No.)

1500 – 625 Howe Street
Vancouver, British Columbia
V6C 2T6
(Address of Registrant’s principal executive offices)
 
Pan American Silver Corp. Stock Option and Compensation Share Plan
(Full title of plan)

CT Corporation
111 Eighth Avenue, 13th Floor
New York, NY 10011
(Name, Address and Telephone Number of Agent for Service)

 
Copy to:
Riccardo Leofanti, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
222 Bay Street, Suite 1750, P.O. Box 258
Toronto, Ontario, Canada M5K 1J5
(416) 777-4700
 
Graeme Martindale, Esq.
Borden Ladner Gervais LLP
1200 Waterfront Centre, 200 Burrard Street
P.O. Box 48600
Vancouver, British Columbia, Canada V7X 1T2
(604) 687-5744

 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of ”large accelerated filer, ““accelerated filer” and “smaller reporting company” in Rule 12b−2 of the Exchange Act (Check one):

 
Large Accelerated Filer [X]
 
Accelerated Filer [  ]
       
 
Non-Accelerated Filer  [  ]
 
Smaller Reporting Company  [  ]
 
 
 
 

 

 
CALCULATION OF REGISTRATION FEE

Title of Securities To Be
Registered
Amount To Be
Registered (1)
Proposed Maximum
Offering Price Per Share
Proposed Maximum
Aggregate Offering Price
Amount of
Registration Fee
Common Shares
2,700 (2)
$30.51 (4)
$82,377.00 (4)
$9.57
  11,773 (2)  $18.89 (4) $222,391.97 (4) $25.84
  6,672 (2) $14.06 (4) $93,808.32 (4) $10.90
  20,642 (2) $9.63 (4) $198,782.46 (4) $23.10
  1,958,213 (3) $6.18 (5) $12,101,756.34 (5) $1,406.22
Total 2,000,000   $12,699,116.09 $1,475.63
 
Notes
 
(1)
 
Pursuant to Rule 416 under the U.S. Securities Act of 1933, as amended (the “Securities Act”), the number of Common Shares being registered hereby shall be adjusted to include any additional Common Shares that may become issuable as a result of stock splits, stock dividends, recapitalization or any other similar transactions effected without the receipt of consideration that results in an increase in the number of the Registrant’s outstanding Common Shares in accordance with the provisions of the Registrant's Pan American Silver Corp. Stock Option and Compensation Share Plan.
     
(2)
 
The Common Shares being registered relate to stock options granted  under the Registrant's Pan American Silver Corp. Stock Option and Compensation Share Plan that have not yet been exercised.
     
(3)
 
The Common Shares being registered relate to compensation shares that may be issued at the Registrant's sole discretion under the Pan American Silver Corp. Stock Option and Compensation Share Plan and Common Shares that are issuable subject to the exercise of stock options to be granted in the future, with option exercise prices to be determined in accordance with the provisions of the Registrant's Pan American Silver Corp. Stock Option and Compensation Share Plan.
     
(4)
 
In accordance with paragraph (h)(1) of Rule 457 under the Securities Act, the maximum offering price per Common Share is the option exercise price converted into U.S. dollars using an exchange rate of C$1.00 = US$0.7586, the Bank of Canada daily noon exchange rate on August 5, 2015.
     
(5)
 
Estimated solely for the purpose of calculating the registration fee pursuant to paragraphs (c) and (h)(1) of Rule 457 under the Securities Act on the basis of the average of the high and low prices for the Common Shares on the Nasdaq Stock Market on August 4, 2015.
 

 
 
 
 
 

 

 
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3.    Incorporation of Documents by Reference
 
The following documents, or excerpts thereof as indicated, filed by the Registrant with the Securities and Exchange Commission (the “Commission”) are incorporated by reference into this Registration Statement:
 
 
(a)
Annual report on Form 40-F of the Registrant for the fiscal year ended December 31, 2014, filed with the Commission on March 30, 2015;
 
 
(b)
The Registrant's Reports on Form 6-K dated March 30, 2015 and May 12, 2015 (with respect to Exhibits 99.1 and 99.2).
 
 
(c)
All reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), by the Registrant since December 31, 2014; and
 
 
(d)
The description of the Registrant's common shares included in the annual report on Form 40-F filed with the Commission on March 30, 2007.
 
All documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities offered hereby then remaining unsold, shall be deemed to be incorporated by reference herein and shall be deemed to be a part hereof from the date of the filing of such documents.  In addition, any Report on Form 6-K of the Registrant hereafter furnished to the Commission pursuant to the Exchange Act shall be incorporated by reference into this Registration Statement if and to the extent provided in such document.
 
Item 4.    Description of Securities
 
Not Applicable
 
Item 5.    Interests of Named Experts and Counsel
 
Not Applicable
 
Item 6.    Indemnification of Directors and Officers

Division 5 of Part 5 of the Business Corporations Act of British Columbia (the “BCBCA”) consists of Sections 159 through 165. Section 160 provides that a corporation may: (i) indemnify an eligible party (these consist of the corporation’s directors, officers, former directors and former officers and their respective heirs and personal or other legal representatives) against judgments, penalties or fines awarded as the result of an eligible proceeding (consisting of any proceeding in which any eligible party is or may be joined as a party by reason of being or having been a director or officer, or the equivalent of a director or officer, of the corporation); and/or (ii) pay the expenses of an eligible party reasonably incurred by that party in respect of such an eligible proceeding after final disposition. Section 161 provides that a British Columbia corporation must pay the expenses incurred by an eligible party in respect of an eligible proceeding if the eligible party is ultimately successful in defending any such proceeding on the merits. Notwithstanding the foregoing, Section 163 prohibits a British Columbia corporation from granting such an indemnity to an eligible party if:
 
 
(a)
at the time the agreement to give indemnity was made the corporation was prohibited from agreeing to grant it by its memorandum or articles;
 
 
(b)
at the time the indemnity is made or paid the corporation is prohibited from giving the indemnity or paying the expenses by its memorandum or articles;
 
 
 
 

 

 
 
(c)
if, in relation to the subject matter of the proceeding, the eligible party did not act honestly and in good faith with a view to the best interests of the corporation; or
 
 
(d)
in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, the eligible party did not have reasonable grounds for believing his or her conduct was lawful.
 
Section 164 of the BCBCA provides that, regardless of whether the payment of expenses or an indemnity is otherwise authorized under the corporation’s articles of incorporation (the “Articles”) or whether it is authorized or declined under Division 5 of Part 5 of the BCBCA, a court may:
 
 
(a)
order a corporation to indemnify an eligible party against any liability incurred in respect of an eligible proceeding;
 
 
(b)
order a corporation to pay some or all of the expenses incurred by an eligible party in respect of an eligible proceeding;
 
 
(c)
order the enforcement of, or a payment under, an agreement of indemnity;
 
 
(d)
order payment of some or all expenses incurred by any eligible person in obtaining a court order under Section 164 of the BCBCA; or
 
 
(e)
make any other order that the court deems appropriate.
 
In accordance with the BCBCA, the Articles of the Registrant provide that the Registrant will indemnify its directors, former directors, Secretary or Assistant Secretary, and may indemnify its officers, employees or agents and those of its subsidiaries, and directors and former directors of its subsidiaries, and each of their respective heirs and representatives, against all losses, charges and expenses howsoever incurred by them as a result of their actions in such capacities. The failure of a director or officer of the Registrant to comply with the provisions of the BCBCA or the Registrant’s Articles, however, will invalidate any indemnity which he or she is entitled to.
 
The Registrant maintains a policy of directors’ and officers’ liability insurance that insures directors and officers for losses as a result of claims against the directors and officers of the Registrant under the indemnity provisions under the Articles and the BCBCA.
 
Insofar as indemnification for liabilities arising under the Securities Act of 1933 (the “Securities Act”) may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions, the Registrant has been informed that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

Item 7.    Exemption From Registration Claimed
 
Not Applicable
 
Item 8.    Exhibits
 
The following exhibits are filed as part of this registration statement:
 
Exhibit No.
 
Description
     
4.1
 
Specimen Common Share certificate.*
     
4.2
 
Articles of Incorporation of the Registrant.*
     
5.1
 
Opinion of Borden Ladner Gervais LLP.
     
23.1
 
Consent of Borden Ladner Gervais LLP (included in Exhibit 5.1 to this Registration Statement).

 
 
 

 

 
23.2
 
Consent of Deloitte LLP.
     
23.3
 
Consent of Martin Wafforn.
     
23.4
 
Consent of Michael Steinmann.
     
23.5
 
Consent of Pamela De Mark.
     
23.6
 
Consent of Americo Delgado.
     
24.1
 
Power of Attorney (included on page 7 of this Registration Statement).

______________________________
 
Previously filed with the Registrant's Registration Statement on Form S-8, filed with the Commission on March 6, 2008 and   incorporated by reference herein.
 
 
Item 9.    Undertakings
 
 
(a)
The undersigned Registrant hereby undertakes:
 
 
(i)
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;
 
 
(ii)
That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and
 
 
(iii)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
 
 
(b)
The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
 
 
(h)
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
 

 
 

 

 
 
question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
 
 
 

 
 

 

 
SIGNATURES
 
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement on Form S-8 to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Vancouver, Province of British Columbia, Canada, on  August 6, 2015.


 
PAN AMERICAN SILVER CORP.
       
       
 
By: 
 
/s/ Geoffrey A. Burns
     
Name: 
 
Geoffrey A. Burns
     
Title:
 
Chief Executive Officer
 
 
 
 
 

 

 
POWER OF ATTORNEY
 
Each person whose signature appears below authorizes Geoffrey A. Burns and A. Robert Doyle, as his attorney in fact and agent, with full power of substitution and resubstitution, to execute, in his name and on his behalf, in any and all capacities, this Registration Statement on Form S-8 and any amendment thereto (and any additional registration statement related thereto permitted by Rule 462(b) promulgated under the Securities Act of 1933 (and all further amendments including post-effective amendments thereto)) necessary or advisable to enable the Registrant to comply with the Securities Act of 1933, and any rules, regulations and requirements of the Securities and Exchange Commission, in respect thereof, in connection with the registration of the securities which are the subject of such registration statement, which amendments may make such changes in such registration statement as such attorney may deem appropriate, and with full power and authority to perform and do any and all acts and things whatsoever which any such attorney or substitute may deem necessary or advisable to be performed or done in connection with any or all of the above-described matters, as fully as each of the undersigned could do if personally present and acting, hereby ratifying and approving all acts of any such attorney or substitute.
 
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities indicated on August 6, 2015.
 
Signature
 
Title
     
/s/ Geoffrey A. Burns
 
Chief Executive Officer
Geoffrey A. Burns
   
     
/s/ A. Robert Doyle
 
Chief Financial Officer
A. Robert Doyle
   
     
/s/ Ross J. Beaty
 
Chairman of the Board of Directors
Ross J. Beaty
   
     
/s/ Michael Carroll
 
Director
Michael Carroll
   
     
/s/ Neil de Gelder
 
Director
Neil de Gelder
   
     
/s/ David C. Press
 
Director
David C. Press
   
     
/s/ Walter T. Segsworth
 
Director
Walter T. Segsworth
   
     
/s/ Noel Dunn
 
Director
Noel Dunn
   

 
 

 

 
AUTHORIZED REPRESENTATIVE


Pursuant to the requirements of the Securities Act of 1933, the undersigned certifies that it is the duly authorized United States representative of Pan American Silver Corp. and has duly caused this Registration Statement to be signed on behalf of it by the undersigned, thereunto duly authorized, in the City of Vancouver, British Columbia, Canada on August 6, 2015.
 


 
PAN AMERICAN MINERALS INC.
(Authorized U.S. Representative)
       
       
 
By: 
 
 /s/ Geoffrey A. Burns
     
Name: 
 
Geoffrey A. Burns
     
Title:
 
Authorized Signatory


 
 
 
 

 

 
EXHIBIT INDEX
 
4.1
 
Specimen Common Share certificate.*
     
4.2
 
Articles of Incorporation of the Registrant.*
     
5.1
 
Opinion of Borden Ladner Gervais LLP.
     
23.1
 
Consent of Borden Ladner Gervais LLP (included in Exhibit 5.1 to this Registration Statement).
     
23.2
 
Consent of Deloitte LLP.
     
23.3
 
Consent of Martin Wafforn.
     
23.4
 
Consent of Michael Steinmann.
     
23.5
 
Consent of Pamela De Mark.
     
23.6
 
Consent of Americo Delgado.
     
24.1
 
Power of Attorney (included on page 7 of this Registration Statement).
 

 
* Previously filed with the Registrant's Registration Statement on Form S-8, filed with the Commission on March 6, 2008 and   incorporated by reference herein.
 




Exhibit 5.1
 
 
August 6, 2015

Pan American Silver Corp.
1500 – 624 Howe Street
Vancouver, British Columbia
V6C 2T6
 
Dear Sirs/Mesdames:
 
Pan American Silver Corp.
Registration Statement on Form S-8
 
We have acted as Canadian counsel to Pan American Silver Corp., a British Columbia company (the “Company”), in connection with the preparation and filing with the United States Securities and Exchange Commission of a Registration Statement (the “Registration Statement”) on Form S-8 under the United States Securities Act of 1933, as amended (the “Act”).
 
The purpose of the Registration Statement is to register a total of 2,000,000 common shares in the capital of the Company which are issuable as compensation shares (the “Compensation Shares”) or upon the exercise of stock options (the “Option Shares”) granted by the Company, in each case pursuant to the terms of its Stock Option and Compensation Share Plan (the “Plan”), approved by the Company’s shareholders on May 13, 2008 and amended on May 10, 2010 and May 11, 2015.
 
We have examined originals or copies, certified or otherwise identified to our satisfaction, of the Notice of Articles and Articles of the Company and resolutions of the directors of the Company with respect to the matters referred to herein.  We have also examined documents relating to the Plan and such certificates of public officials, officers of the Company, corporate records and other documents as we have deemed necessary as a basis for the opinion expressed below.  In our examination of such documents, we have assumed the authenticity of all documents submitted to us as certified copies or facsimiles thereof.
 
Our opinions herein are limited to the laws of British Columbia and the federal laws of Canada applicable therein.
 
Based upon and subject to the foregoing, we are of the opinion that the Compensation Shares and, upon the valid exercise of options governed by the terms of the Plan and upon receipt of payment in full for the Option Shares in respect of which such stock options have been exercised, the Option Shares, will be validly issued as fully paid and non-assessable shares in the capital of the Company.
 
 
 

 

Consent is hereby given to the use of our name in the Registration Statement and to the filing, as an exhibit to the Registration Statement, of this opinion.  In giving such consent, we do not admit that we come within the category of persons whose consent is required under Section 7 of the Act.
 
 
Yours truly,
   
 
/s/ Borden Ladner Gervais LLP

 
 
- 2 -


Exhibit 23.2
 
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated March 26, 2015 relating to the consolidated financial statements of Pan American Silver Corp. and the effectiveness of Pan American Silver Corp.’s internal control over financial reporting appearing in the Annual Report on Form 40-F of Pan American Silver Corp. for the year ended December 31, 2014.
 
 
   
 /s/ Deloitte LLP
 
Chartered Professional Accountants
 
August 6, 2015
 
Vancouver, Canada
 



Exhibit 23.3
 
CONSENT OF MARTIN WAFFORN, P. ENG.



To:
United States Securities and Exchange Commission

Re:
Expert Consent for Registration Statement on Form S-8

Technical reports entitled:

1.
 
“Feasibility Study Volume I – NI 43-101 Technical Report for Alamo Dorado Project, Alamos, Sonora, Mexico” dated March 31, 2005 relating to the Alamo Dorado property;
2.
 
“Technical Report for the San Vincente Mine Expansion Project, Potosi Bolivia” dated effective June 6, 2007 relating to the San Vincente property;
3.
 
“Pan American Silver Corp. Navidad Project, Chubut Province, Argentina: Preliminary Assessment”  dated January 14, 2011 relating to the Navidad property;
4.
 
“Technical Report – Preliminary Economic Analysis for the Expansion of the La Colorada Mine, Zacatecas, Mexico” dated effective December 31, 2013 relating to the La Colorada property;
5.
 
“Technical Report for the Dolores Property, Chihuahua, Mexico – Preliminary Economic Assessment of a Pulp Agglomeration Treatment and Underground Option” dated effective May 31, 2014 relating to the Dolores property;
6.
 
“Technical Report for the Huaron Property, Pasco, Peru” dated effective June 30, 2014 relating to the Huaron property; and
7.
 
“Technical Report for the Morococha Property, Yauli, Peru” dated effective June 30, 2014 relating to the Morococha property
 
(collectively, the “Technical Reports”)

were prepared for Pan American Silver Corp. (the “Corporation”) in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects by Martin Wafforn, P. Eng., in whole or in part, and filed with applicable securities regulatory authorities.

The undersigned does hereby consent to the written disclosure of the Technical Reports and the extracts from, or summary of, or references to the Technical Reports and other scientific and technical information relating solely to the Corporation by the Corporation in the annual information form of the Corporation, dated March 30, 2015 (the "AIF") and in the Annual Report on Form 40-F of the Corporation, dated March 30, 2015 (the "40-F"), which is incorporated by reference in the Registration Statement on Form S-8 of the Corporation, dated August 6, 2015.  The undersigned does also hereby consent to the reference to my name in the AIF and the 40-F.

The undersigned does hereby confirm that I have read the AIF and the 40-F and have no reason to believe that there are any misrepresentations in the information contained in the AIF or the 40-F that are (a) derived from the Technical Reports; or (b) within my knowledge as a result of the services I performed in connection with the Technical Reports.

Dated this 6th day of August, 2015.

/s/ Martin Wafforn
 
Martin Wafforn, P. Eng.


Exhibit 23.4
 
CONSENT OF MICHAEL STEINMANN, P. GEO.



To:
United States Securities and Exchange Commission

Re:
Expert Consent for Registration Statement on Form S-8

Technical reports entitled:

1.
 
“Manantial-Espejo Project Canadian Standard NI 43-101, Santa Cruz Province, Argentina” dated March 2006 relating to the Manantial Espejo property;
2.
 
“Feasibility Study Volume I – NI 43-101 Technical Report for Alamo Dorado Project, Alamos, Sonora, Mexico” dated March 31, 2005 relating to the Alamo Dorado property;
3.
 
“Technical Report for the San Vincente Mine Expansion Project, Potosi Bolivia” dated effective June 6, 2007 relating to the San Vincente property;
4.
 
“Pan American Silver Corp. Navidad Project, Chubut Province, Argentina: Preliminary Assessment” dated January 14, 2011 related to the Navidad property;
5.
 
“Technical Report – Preliminary Economic Analysis for the Expansion of the La Colorada Mine, Zacatecas, Mexico” dated effective December 31, 2013 relating to the La Colorada property;
6.
 
“Technical Report for the Dolores Property, Chihuahua, Mexico – Preliminary Economic Assessment of a Pulp Agglomeration Treatment and Underground Option” dated effective May 31, 2014 relating to the Dolores property;
7.
 
“Technical Report for the Huaron Property, Pasco, Peru” dated effective June 30, 2014 relating to the Huaron property; and
8.
 
“Technical Report for the Morococha Property, Yauli, Peru” dated effective June 30, 2014 relating to the Morococha property
 
(collectively, the “Technical Reports”)

were prepared for Pan American Silver Corp. (the “Corporation”) in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects by Michael Steinmann, P. Geo., in whole or in part, and filed with applicable securities regulatory authorities.

The undersigned does hereby consent to the written disclosure of the Technical Reports and the extracts from, or summary of, or references to the Technical Reports and other scientific and technical information relating solely to the Corporation by the Corporation in the annual information form of the Corporation, dated March 30, 2015 (the "AIF") and in the Annual Report on Form 40-F of the Corporation, dated March 30, 2015 (the "40-F"), which is incorporated by reference in the Registration Statement on Form S-8 of the Corporation, dated August 6, 2015.  The undersigned does also hereby consent to the reference to my name in the AIF and the 40-F.

The undersigned does hereby confirm that I have read the AIF and the 40-F and have no reason to believe that there are any misrepresentations in the information contained in the AIF or the 40-F that are (a) derived from the Technical Reports; or (b) within my knowledge as a result of the services I performed in connection with the Technical Reports.

Dated this 6th day of August, 2015.

/s/ Michael Steinmann
 
Michael Steinmann, P. Geo.
 


Exhibit 23.5
 

 
CONSENT OF PAMELA DE MARK, P. GEO., BAPPSC (APP GEO, HONS), MAUSIMM



To:
United States Securities and Exchange Commission

Re:
Expert Consent for Registration Statement on Form S-8

A technical report “Pan American Silver Corp. Navidad Project, Chubut Province, Argentina: Preliminary Assessment” and dated effective January 14, 2011, (the “Technical Report”) was prepared for Pan American Silver Corp. (the “Corporation”) in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects by Pamela De Mark, P. Geo. BAppSc (App Geo, Hons), MAusIMM, in whole or in part, and filed with applicable securities regulatory authorities.

The undersigned does hereby consent to the written disclosure of the Technical Report and the extracts from, or summary of, or references to the Technical Reports and other scientific and technical information relating solely to the Corporation by the Corporation in the annual information form of the Corporation, dated March 30, 2015 (the "AIF") and in the Annual Report on Form 40-F of the Corporation, dated March 30, 2015 (the "40-F"), which is incorporated by reference in the Registration Statement on Form S-8 of the Corporation, dated August 6, 2015.  The undersigned does also hereby consent to the reference to my name in the AIF and the 40-F.

The undersigned does hereby confirm that I have read the AIF and the 40-F and have no reason to believe that there are any misrepresentations in the information contained in the AIF or the 40-F that are (a) derived from the Technical Reports; or (b) within my knowledge as a result of the services I performed in connection with the Technical Reports.

Dated this 6th day of August, 2015.

/s/ Pamela De Mark
 
Pamela De Mark,
P. Geo., BAppSc (App Geo, Hons), MAusIMM
 


Exhibit 23.6
 
CONSENT OF AMERICO DELGADO, P. ENG.



To:
United States Securities and Exchange Commission

Re:
Expert Consent for Registration Statement on Form S-8

Technical reports entitled:

1.
 
“Technical Report for the Dolores Property, Chihuahua, Mexico – Preliminary Economic Assessment of a Pulp Agglomeration Treatment and Underground Option” dated effective May 31, 2014 relating to the Dolores property;
2.
 
“Technical Report for the Huaron Property, Pasco, Peru” dated effective June 30, 2014 relating to the Huaron property; and
3.
 
“Technical Report for the Morococha Property, Yauli, Peru” dated effective June 30, 2014 relating to the Morococha property

(collectively, the “Technical Reports”)

were prepared for Pan American Silver Corp. (the “Corporation”) in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects by Americo Delgado, P. Eng., in whole or in part, and filed with applicable securities regulatory authorities.

The undersigned does hereby consent to the written disclosure of the Technical Reports and the extracts from, or summary of, or references to the Technical Reports and other scientific and technical information relating solely to the Corporation by the Corporation in the annual information form of the Corporation, dated March 30, 2015 (the "AIF") and in the Annual Report on Form 40-F of the Corporation, dated March 30, 2015 (the "40-F"), which is incorporated by reference in the Registration Statement on Form S-8 of the Corporation, dated August 6, 2015.  The undersigned does also hereby consent to the reference to my name in the AIF and the 40-F.

The undersigned does hereby confirm that I have read the AIF and the 40-F and have no reason to believe that there are any misrepresentations in the information contained in the AIF or the 40-F that are (a) derived from the Technical Reports; or (b) within my knowledge as a result of the services I performed in connection with the Technical Reports.
 
Dated this 6th day of August, 2015.

/s/ Americo Delgado
 
Americo Delgado, P. Eng.
 
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