Kalenn
there is also another aspect of S32 wisdom, they have withdrawn from Inca JV but kept AQD JV commitments
Right now market values Inca prospects at $38m but AQD prospects are only valued at $16m,
Therefore they kept a bet on prospects 2.4 times smaller
Here is another question : are AQD prospects discounted more than Inca because of prospects potential or because the market attributes negative value to S32 JV and associated dillition as they take 70% cut for not a significant contribution.
Ann: PERU DRILL PERMIT UPDATE, page-89
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