TSX:SUE.WT - Post by User
Comment by
play_n_layon Jun 28, 2011 9:08am
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Post# 18772962
RE: Peru - Bear Creek:
RE: Peru - Bear Creek:forgot to thank you for this info sir_holler. Certainly explains the price movement we saw yesterday.
I had an oppertunity to do a bunch of research on this issue. I personally do not feel the SUE holding is in any way shape or form at risk for the following reasons:
1) the current president removed the permit to end Bear Creek violence. He is exiting office in a few days and doesnt want blood on his hands.
2) This permit is in the southern part of peru. Where the violence is taking place. Primarily from the native peruvians. The violence, as far as I can tell, is not spreading and is not in northern Peru...some 1000km away...where our SUE permits are.
3) I think we will see humalla quickly reverse the previous presidents decision when he takes office. This will calm the markets and tell all international investors Peru is open for business. (speculation obviously)
4) Peru's economy benefits significantly from mining.
For these reasons I took yesterday as an oppertunity to accumulate significantly...lets see if it works out.
GLTA