IKN

Every why hath a wherefore

Mo’ Sulliden (SUE.to): Can we be clear on this, please?

So you think it’s a buy because it’s going for the “build small get bigger” model that Rio Alto (RIO.to) used down the road at La Arena? 
1) Down the road La Arena is in the province of La Libertad. SUE.to at Shahuindo is in Cajamarca. That province name ring a bell to you, perchance?
2) The NPV on this feas is still less than the current market cap of the company, even after today’s drop in share price on this news.
3) And it still hasn’t had its environmental permitting even submitted to the Peru government, let alone considered, let alone approved. Want to hazard a guess as to how long you’re going to have to wait for a construction decision on this? FWIW, put me down for 2015.
Still think this company is worth nearly $300m? Sorry to be so blunt, but I really don’t want to reply to the same mail 18 times.

UPDATE: And now, Even more Sulliden (SUE.to)

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