I have some similar concerns about the delays and MUN being played by the locals.
It might be best for MUN to shut down the operation and flog this asset to have some funds for Peru. The grade at the existing mine is garbage for an underground mining operation. I am not sure if they would get anything for it. They could just let the local operation go bankrupt and stuff the local bank. Obviously they would not have a future in Brazil, but at least they could "mine" shareholders for Peru's gold.
I think MUN should delay the SPP until the road approvals are in, otherwise it is likely the SPP will not succeed. Perhaps they should advise the local authorities that closure will have to take place if approval is not obtained within a set time.
loki
MUN Price at posting:
9.8¢ Sentiment: None Disclosure: Held
