RE: net worth 32 cents?.32 cents last year was following a major correction in all markets. As a lot of other stocks back then, most of the valuations made absolutely no sense. It was bargain time. Whoever mentioned .32c probably missed the boat and would like a second chance.
Large companies still need to replace their depleting copper resources.
Humala has one of the strongest economies on his hands now. I doubt he will not do anything to mess that up. He needs this strong performance to continue so he can accomplish his goals. The markets will calm down once he announces his finance minister who will most likely be a moderate. Humala himself seems to be sticking to the Brazilian model, post election.
I think that whoever wanted to get out did so yesterday. Also keep in mind that yesterday many resource stocks were down 4-6% or more and the TSX was down 200 pts. We're not doing too bad so far this morning.
Candente has 10B e/lbs. Sur and Verde will most likely be part of the deal, so add that. Large companies see the bigger picture and have a longer time frame. Humala will be able to push so much on mining companies. Once we get an idea of his plans I think we will be back on track.
Since large companies have a different perspective then individual investors, we may yet get a deal before many expect it. The Chinese & Koreans invested in African countries where many western companies would not venture. They don't see risk quite the same way.
Hopefuly Humala won't wait too long to show his cards, so we all know where we stand. He wont be sworn in until late July, but from the readings I have seen, he should be quite active between now & then. Anybody recall the past transitions - Rockaberryfin in LIMA ???
jmho
P-Air