Document:

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                                                                    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 18, 2002

ITEM 3.           PRESS RELEASE

                  A press release was issued by the Company on November 18, 2002
                  at Vancouver, British Columbia and distributed through the
                  facilities of Canada NewsWire.

ITEM 4.           SUMMARY OF MATERIAL CHANGE

                  The Company announced its third quarter financial and
                  operations results for the quarter ended September 30, 2002.
                  All amounts are expressed in U.S. dollars. The Company
                  reported a third quarter net loss (before a write down) of
                  $2.26 million ($0.05 loss per share) compared to a net loss
                  (before an unusual gain) of $2.80 million ($0.07 loss per
                  share) for the third quarter of 2001. During the third
                  quarter, the Company wrote down its investment in the
                  Quiruvilca mine by $15.13 million. Management determined that
                  the recovery of its investment in Quiruvilca was unlikely
                  unless realized metal prices were significantly higher than
                  those of the recent past. The net loss, including the
                  Quiruvilca write down, was $17.39 million ($0.40 per share)
                  for the third quarter compared to net income of $0.70 million
                  ($0.02 per share) after a $3.50 million unusual gain on the
                  sale of land for the third quarter of 2001.

ITEM 5.           FULL DESCRIPTION OF MATERIAL CHANGE

                  HIGHLIGHTS

                  -        Gained overwhelming shareholder approval for
                           acquisition of Corner Bay Silver.

                  -        Began construction of full-scale operation at La
                           Colorada silver mine in Mexico, which will quadruple
                           the mine's silver production in mid-2003.

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                  -   Wrote down carrying value of Quiruvilca mine due to
                      lack of profitability at current metal prices.

                  -   Began expansion of Huaron mine in Peru due to
                      exploration success, which will result in a 10
                      percent production increase starting in 2003.

                  FINANCIAL (all amounts are expressed in US dollars)

                  The Company reported a third quarter net loss (before a write
                  down) of $2.26 million ($0.05 loss per share) compared to a
                  net loss (before an unusual gain) of $2.80 million ($0.07 loss
                  per share) for the third quarter of 2001. During the third
                  quarter, the Company wrote down its investment in the
                  Quiruvilca mine by $15.13 million. Management determined that
                  the recovery of its investment in Quiruvilca was unlikely
                  unless realized metal prices were significantly higher than
                  those of the recent past. The net loss, including the
                  Quiruvilca write down, was $17.39 million ($0.40 per share)
                  for the third quarter compared to net income of $0.70 million
                  ($0.02 per share) after a $3.50 million unusual gain on the
                  sale of land for the third quarter of 2001.

                  Revenue for the quarter was $11.20 million or 19 percent less
                  than revenue for the third quarter of 2001. This decrease is
                  principally due to the timing of zinc, lead and copper
                  concentrate shipments from the Quiruvilca and Huaron mines.

                  Consolidated silver production was 1,750,467 ounces for the
                  third quarter (2001 - 2,140,802 ounces). Production of zinc
                  and copper were all higher for the third quarter when compared
                  to 2001. Silver production was lower at La Colorada because
                  milling operations were temporarily suspended in order to
                  focus on preparation for the mine expansion and at Quiruvilca
                  because of lower production levels and lower silver grade.
                  Base metal production was higher because of higher base metal
                  grades. The La Colorada mine is now back in operation.

                  For the nine months ended September 2002 consolidated silver
                  production was 5,755,367 ounces or 19 per cent higher than for
                  the first three quarters of 2001 due to three quarters of full
                  production from Huaron more than offsetting the decrease in
                  production at Quiruvilca and La Colorada.

                  During the third quarter operating activities generated cash
                  flow of $1.17 million. Investing activities, virtually all of
                  which consisted of plant and equipment expenditures at La
                  Colorada, consumed $3.22 million and financing activities
                  consumed $1.00 million including loan repayments of $0.60
                  million. Working capital, including cash of $17.96 million,
                  amounted to $13.70 million at September 30, 2002.

                  CORNER BAY SILVER ACQUISITION

                  In early September shareholders of both the Company and Corner
                  Bay voted in favour of the Company acquiring Corner Bay.
                  Closing of the merger has been delayed while efforts have been
                  made to secure a source of water for a potential mining
                  operation. A water rights agreement with a local agricultural
                  cooperative has been entered into and is in the process of
                  being ratified and approved by a regional water users
                  association and necessary Mexican authorities. The Company and
                  Corner Bay have extended the date for

                                      -2-
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                  procurement of water from November 15 to December 17 and it is
                  hoped the merger can then be completed. This will result in
                  the Company acquiring 100 percent of the Alamo Dorado silver
                  deposit. It is expected that Alamo Dorado will produce in
                  excess of 6 million ounces per year for at least 8 years at a
                  total cash cost of $3.25. Construction could commence soon
                  after completion of the La Colorada expansion project now
                  underway.

                  HUARON MINE, PERU

                  The Huaron mine continued to operate well during the quarter,
                  producing 1,101,005 ounces of silver and 5,285 tonnes of zinc
                  at a total cash cost of $4.17 per ounce of silver net of
                  by-product credits. As a result of exploration success to date
                  in 2002, the mine has begun an expansion project that will
                  increase production nearly 10 percent by late-2003. This cost
                  is being funded from operating cash flow and expensed as part
                  of the cash cost of production reported from the mine. Huaron
                  has outperformed the Company's expectations for 2002 and has
                  contributed $2.85 million in cash flow in the year to date,
                  despite very low metal prices.

                  QUIRUVILCA MINE, PERU

                  The Quiruvilca mine continues to struggle under existing low
                  metal prices. During the quarter, the mine produced 594,463
                  ounces of silver and 4,622 tonnes of zinc at a total cash cost
                  of $5.20 per ounce of silver net of by-product credits. Since
                  the third quarter of 2001 operating costs per tonne have
                  decreased from $43.36 to $38.46, however revenue during the
                  same period has decreased from $38.09 to $32.42 due to lower
                  metal prices and a drop in silver grades as the more
                  silver-rich veins in the upper parts of the mine are exhausted
                  and production comes from the deeper, zinc-rich veins. Despite
                  extraordinary efforts by the Company's employees to reduce all
                  possible costs, Quiruvilca simply cannot make money at current
                  metal prices. All options continue to be examined to remedy
                  this situation. Quiruvilca has operated continuously since
                  1925, and so closure (either temporary or permanent) would be
                  very costly in financial and social terms. Higher metal prices
                  will allow the mine to contribute to the Company's cash flow,
                  as it did most recently in 2000, but it is impossible to
                  predict when this will occur. Using current metal prices, the
                  mine will not return its carrying value, and as a prudent
                  accounting policy, $15.13 million of the mine's book value was
                  written down during the quarter.

                  LA COLORADA MINE, MEXICO

                  The third quarter was a transition period at the La Colorada
                  mine as construction began on the mine expansion that will
                  quadruple silver production to 3.8 million ounces annually
                  beginning in mid-2003. This work required the small-scale
                  existing operation to close for six weeks during the quarter.
                  Production resumed in mid-September. During the quarter,
                  54,999 ounces of silver were produced. So far, construction is
                  on schedule and budget. The construction team is complete, the
                  oxide mill equipment is on site and being assembled and most
                  of the new underground equipment has been delivered.

                                      -3-
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                  SAN VICENTE MINE, BOLIVIA

                  Small-scale operation by EMUSA, the Bolivian company that
                  operates this mine under a short term toll-mining agreement
                  with the Company, continued during the quarter with production
                  of 350,000 ounces of silver and a cash flow contribution to
                  the Company of about $0.10 million. In light of the successful
                  operation to date that has been possible using EMUSA's nearby
                  milling facility, the Company is discussing with EMUSA other
                  options that would increase silver production from San Vicente
                  to the benefit of both companies and the Bolivian state mining
                  company COMIBOL.

                  EXPLORATION

                  The Company was active during the quarter in four exploration
                  programs, three of which continue. Near La Colorada, a small
                  drilling program was carried out without significant results.
                  At Huaron, drilling was successful in increasing reserves in
                  the wide zones discovered in late 2001 that have contributed
                  to the mine's successful operation this year. At Manantial
                  Espejo in Argentina, drilling began in the 6,000 meter program
                  designed to move the project forward to the pre-feasibility
                  stage in 2003, and initial results have been very promising.
                  Finally, in Mexico, surface exploration concluded at the
                  Ocotlan project and drilling has now begun on the most
                  attractive targets.

                  SILVER MARKETS

                  Silver prices deteriorated in the third quarter, along with
                  most other metal prices. Zinc dropped to a new record low in
                  real dollar terms. These price declines are due to a drop in
                  industrial demand that began in mid-2000 and no accompanying
                  change in supply. Silver is widely used in the electronics and
                  high-tech sectors where demand remains very weak. Little
                  speculative buying was apparent during the quarter, in
                  contrast to earlier in 2002. However, strong physical buying
                  is reported at current silver prices, mine supply of silver is
                  likely to decrease in 2002 for the first time in six years,
                  and it is believed that Chinese sales of silver inventories
                  have been curtailed for the time being. While some reports
                  argue that silver prices are being manipulated downward by
                  bullion traders, we believe silver prices can be well
                  explained by demand and supply fundamentals, which provide a
                  solid base to current prices and good support for a higher
                  price trend in the near future.

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.

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ITEM 8.           SENIOR OFFICERS

                  For Further information, please contact:

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

ITEM 9.           STATEMENT OF SENIOR OFFICER

                  The foregoing accurately discloses the material change
                  referred to herein.

                  DATED at Vancouver, British Columbia, this 21st day of
                  November, 2002.

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

                                 Gordon Jang, Controller and Corporate Secretary
                                 -----------------------------------------------

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EXHIBIT 10.10

                   INDEPENDENT CONTRACTOR/CONSULTING AGREEMENT
                   -------------------------------------------

     THE  AGREEMENT is made and entered into as November 12, 2002 by and between
MicroSignal  Corporation,  a  Nevada  corporation  ("MSC")  and  Antal Markus, a
resident  of  British  Columbia,  Canada  ("Markus").

                                    RECITALS
                                    --------

     WHEREAS, MSC is a public company trading on the OTCBB under the symbol
"MSGL"; and

     WHEREAS, Markus is knowledgeable in the areas of business operations of MSC
and possesses experience in merger structure, corporate image, public relations,
marketing, advertising, business development and business strategy; and

     WHEREAS, MSC wishes to engage Markus on a non-exclusive basis as an
independent contractor to utilize his experience and business knowledge to
assist in administering the affairs of MSC and to assist in completing a
proposed asset acquisition by MSC as well as developing a marketing strategy;
and

     WHEREAS, Markus is willing to be so retained on the terms and conditions
set forth in this Agreement.

                                    AGREEMENT
                                    ---------

     NOW, THEREFORE, in consideration of the promises and the mutual agreements
hereinafter set forth, the parties hereto agree as follows:

     1.  Engagement.  MSC hereby retains and engages Markus to perform the
following consulting services (the "Consulting Services"):

     1.1 Duties of Markus.  Markus will provide such services and advice to MSC
so as to assist MSC with matters relating to acquisition targets for MSC and
advise and administer the structure of mergers or other acquisitions.  Without
limiting the generality of the foregoing, Markus will also assist MSC in
administering, studying and evaluating acquisition proposals, review reports and
studies thereon when advisable, and assist in negotiations and discussions
pertaining thereof.  Nothing contained herein constitutes a commitment on the
part of Markus to find an acquisition target for MSC or, if such target is
found, that any transaction will be completed.  Markus will assist MSC in
creating its corporate image advertising, business development and business
strategy as well as marketing strategies.  Markus will be responsible for
Canadian marketing and licensing of MSC's rights in Canada.

     2.  Duties Expressly Excluded.  This Agreement expressly excludes Markus
from providing any and all capital formation and/or public relation services to
MSC inclusive of but not limited to (i) direct or indirect promotion of MSC's
securities; (ii) assistance in making of a market in MSC's securities; and (iii)
assistance in obtaining debt and/or equity financing.  Markus shall not have the
power of authority to bind MSC to any transaction without MSC's prior written
consent.

     3.  Consideration.  MSC and Markus agree that Markus shall receive from MSC
a fee consisting of 600,000 Shares of MSC's common stock, in advance, as
consideration for the services rendered or to be rendered pursuant to this
Agreement.   The Shares to be issued hereunder shall be registered by MSC, at
its sole cost and expense, with the Securities and Exchange Commission.

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     4.  Term.  This Agreement shall be effective for a term of twenty-four
months (24) starting from the date first above written unless sooner terminated
upon mutual written agreement of the parties hereto.

     5.  Expenses.  Markus shall bear his out-of-pocket costs and expenses
incident to perform the Consulting Services, without a right of reimbursement
from MSC unless such expenses are pre-approved by MSC.

     6.  Markus's Liability.  In the absence of gross negligence or willful
misconduct on the part of Markus or Markus's breach of any terms of this
Agreement, Markus shall not be liable to MSC or to any officer, director,
employee, stockholder or creditor of MSC, for any act or omission in the course
of or in connection with the rendering or providing of services hereunder.
Except in those cases where the gross negligence or willful misconduct of Markus
or the breach by Markus of any terms of this Agreement is alleged and proven,
MSC agrees to defend, indemnify, and hold harmless from and against any and all
reasonable costs, expenses and liability (including reasonable attorney's fees
paid in the defense of Markus) which may in any way result from services
rendered by Markus pursuant to or in any connection with this Agreement.  This
indemnification expressly excludes any and all damages as a result of any
actions or statements, on behalf of MSC, made by Markus without the prior
approval or authorization of MSC.

     7.  MSC's Liability.  Markus agrees to defend, indemnify and hold MSC
harmless from an against any and all reasonable costs, expenses and liability
(including reasonable attorney's fees paid in defense of MSC) which may in any
way result pursuant to his gross negligence or willful misconduct or in any
connection with any actions taken or statements made, on behalf of MSC, without
the prior approval or authorization of MSC or which are otherwise in violation
of applicable law.

     8.  Representations.  Markus makes the following representations:

     a.  Markus has no prior or existing legally binding obligations that are in
conflict with his entering into this Agreement;

     b.  Markus shall not offer or make payment of any consideration to brokers,
dealers or others for purposes of inducing the purchase, making of a market or
recommendation for the purchase of MSC's securities;

     c.  Markus is not currently the subject of an investigation or inquiry by
the Securities and Exchange Commission, the NASD, or any state securities
Commission;

     d.  Markus's activities and operations fully comply with now and will
comply with in the future all applicable state and federal securities laws and
regulations;

     e.  Markus understands that, as a result of his services, it may come to
possess material non-public information about MSC, and that he has implemented
internal control procedures designed to reasonably to insure that neither he nor
his employees, agents, Markus or affiliates, trade in the securities of client
companies while in possession of material non-public information;

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     f.  During the term of this Agreement and for a period of two years
thereafter, Markus shall treat as MSC's confidential trade secrets all data,
information, ideas, knowledge and papers pertaining to the affairs of MSC.
Without limiting the generality of the foregoing, such trade secrets shall
include: the identity of MSC's customers, suppliers and prospective customers
and suppliers; the identity of MSC's creditors and other sources of financing,
MSC's estimating and costing procedures and the costs and gross prices charged
by MSC for its products, the prices or other consideration charged to or
required of MSC buy any of its suppliers or potential suppliers; MSC's sales and
promotional policies; and all information relating to entertainment programs or
properties being developed or otherwise developed by MSC.  Markus shall not
reveal said trade secrets to others except in the proper exercise of his duties
for MSC, or use their knowledge thereof in any way that would be detrimental to
the interest of MSC, unless compelled to disclose such information by judicial
or administrative process; provided, however, that the divulging of information
shall not be a breach of this Agreement to the extent that such information was
(i) previously known by the party to which it is divulged, (ii) already in the
public domain, all through no fault of Markus, or (iii) required to be disclosed
by Markus pursuant to judicial or governmental order;

     Markus shall also treat all information pertaining to the affairs of MSC's
suppliers and customers and prospective suppliers and customers as confidential
trade secrets of such customers and suppliers and prospective customers and
suppliers; and

     g.  Markus agrees to notify MSC immediately if, at any time, any of the
representations and warranties made by Markus herein are no longer true and
correct or if a breach of any of the representations and warranties made by
Markus herein occurs.

     9.  MSC makes the following representations:

     a.  MSC is not currently the subject of an investigation or inquiry by the
Securities and Exchange Commission, the NASD, or any state securities
Commission;

     b.  MSC is in good standing in its state of incorporation;

     c.  MSC and its senior management are not aware of any materially adverse
events not previously disclosed in MSC's annual and quarterly reports with the
Securities and Exchange Commission.

     10.  Entire Agreement.  This Agreement embodies the entire agreement and
understanding between MSC and Markus and supersedes any and all negotiations,
prior discussions and preliminary and prior agreements and understandings
related to the primary subject matter hereof.  This Agreement shall not be
modified except by written instrument duly executed by each of the parties
hereto.

     11.  Waiver.  No waiver of nay provisions of this Agreement shall be
deemed, or shall constitute a waiver of any other provisions, nor shall any
waiver constitute a continuing waiver.  No waiver shall be binding unless
executed in writing by the party making the waiver.

     12.  Assignment and Binding Effect.  This Agreement and the rights
hereunder may not be assigned by the parties (except by operation of law or
merger) and shall be binding upon and inure to the benefits of the parties and
their respective successors, assigns and legal representatives.

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     13.  Notices.  Ant notice or other communications between the parties
hereto shall be sufficiently given if sent by certified or registered mail,
postage prepaid, or faxed and confirmed at the following locations:

     MSC:

          MicroSignal Corporation
          Attn: CEO
          345 Southpointe Boulevard Ste 110
          Canonsburg PA  15317

     Markus:

          Antal Markus
          200 Merlin Court
          Kelowna BC V1V 1N2

or at such location as the addressee may have specified in notice duly given to
the sender as provided herein.  Such notice or other communications shall be
deemed to be given on the date of receipt.

     14.  Severability.  Every provision of this Agreement is intended to be
severable.  If any term or provision hereof is deemed unlawful or invalid for
any reason whatsoever, such unlawfulness or invalidity shall not affect the
validity of this Agreement.

     15.  Governing Law.  This Agreement shall be construed and interpreted in
accordance with the laws of Nevada, without giving effect to conflicts of laws.

     16.  Headings.  The headings of this Agreement are inserted solely for the
convenience of reference and are not part of, and are not intended to govern,
limit or aid in the construction of any term or provision hereof.

     17.  Further acts.  Each party agrees to perform any further acts and
execute and deliver any further documents that may be reasonably necessary to
carry out the provisions and intent of this Agreement.

     18.  Acknowledgment Concerning Counsel.  Each party acknowledges that it
had the opportunity to employ separate and independent counsel of its own
choosing in connection with this Agreement.

     19.  Independent Contractor Status.  There is no relationship, partnership,
agency, employment, franchise or joint venture between the parties.  The parties
have no authority to bind the other or incur any obligations on their behalf.

     20.  Counterparts.  This Agreement may be executed simultaneously in two or
more counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

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     IN WITNESS WHEREOF, the parties hereto duly execute this Agreement as of
the date first written above.

                                   MICROSIGNAL CORPORATION

                                   By:/s/ Matthew G. McConaghy
                                      Matthew G. McConaghy, President

                                   By:/s/ Antal Markus
                                     Antal Markus

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