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If BOD had written off their investment they would have sold out cheap, and got more money back than 2 years of funding would result in. Bergen would not be investing if there was a case of funding the directors jollies for 2 years. Instead Los Calatos has been advanced by securing pipeline access rights, which, IMHO has increased the project value by at least 20 - 50% at least. Whilst SP. has not shown a decent increase as a result, it was impressive how quickly it was approved, showing the Peruvian government "is on side".