close engenho & concentrate on torrecillas, page-6

Fortunately, Mundo recently received $10 Million from institutuional and sophisticated investors, who are mostly located in the USA. I'm sure that these investors will share our concerns about the current share price.

Only 4 weeks ago Mundo had received confirmation from SUPRAM, the state government authority, that it is ready to proceed with the road approvals with a sense of urgency. Mundo also told us that it will only take 3 months to build the road and pre-strip Crista Mine once the licence is granted.

Mundo has the cash to build the road, pre-strip the mine and build the mine infrastructure. So now we wait for SUPRAM to make a decision. And while we wait, the SP steadily drops.

The SPP will fail if SUPRAM doesn't approve the haulage road within the next 2 weeks. If the approval comes later than 2 weeks, my guess is there will be another SPP later. And if the road is not approved, then goodbye Brasil and hello Peru.