saucy doubts and fears

The San Juan gold mine in Peru and Deloitte Canada

Here’s a strange tale in the making: When Century Mining hit the skids a few years ago (remember Margaret Kent/Peggy Witte?, yeah me too) one of its assets at the time was a majority share of the San Juan mine, a small operating gold mine in the Camana region of southern Peru. So as is the nature of these things the receiver was brought in to sell the asset, which is still working and churning out gold, to the highest bidder and in charge of the vending process was and still is Deloitte Canada (the Toronto office, to be precise).
Thing is, Deloitte has received several offers over the last couple of years at fair prices for the asset, but somehow the offers never seem to get accepted. For sure the first reaction is all positive, then agreements get signed, due diligence gets done, all the normal stuff but when the formal offer is made the deals suddenly seem to get lost in the inner workings and nothing gets closed. If it were a single offer you could perhaps pass it off, but your humble scribe now hears that this hasn’t just happened once, but on multiple occasions.
Why should that be? Why is Deloitte reluctant to sell one of the things that it’s supposed to be selling? Which just so happens to be an operating gold mine, too. 
To be continued.

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