The Apurimac Peru asset which strike owns 80% of has 270mt mineral resources. This is material, however can only be unlocked by either:
- A 3rd party (government building a railway); or
- a 3rd party buying the asset and developing it using either railway or slurry pipeline to Port.
Given the ownership and voting structure is an absolute mess (diagram below courtesy of ChatGPT), it raises the question what rationale does GII have for increasing their stake to 8%. My speculation is:
- Strike are in discussions to sell their stake in the Apurimac asset to the Chinese; or
- GII have knowledge on the pace of a 3rd party railway being developed.
Either way an insider of a company with questionable governance (my opinion only) is adding more stock on market, could be interesting.
Ann: Notice of Change of Interests of Substantial Holder - GII, page-6
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