jindal steel and comibol, new factors, page-29

The problem is that while it is said that RAU has spent US$35 million on Amaypampa since it officially took over the project about mid 2008 that is not the same thing as what it might be considered to be worth in its present condition.

Let's face it. What has happened since 2008? A few more drill holes and trenches and some more ounces added to the tally. Some roads formed and some training of the workforce.

Does that make Amaypapmpa worth US$35 m.? Or even US$17.5 million? Don't think so.

Is the Bolivian Govt obligated to take off RAU's hands? Don't think so.

Is RAU in a strong position as a seller ? Don't think so.

Could the Bolivian Govt wait it out till RAU goes bust. Pretty good chance of that.

If RAU arranged to buy Amaypapmpa from Vista for US$3m when things got into production( not even a dollar down and a dollar a week deal) then what possibility is there of Amaypampa being worth anything more now.....if anybody really wants to buy it.
Even Ray Shorrocks in the latest QR is casting significant doubt on a sale being done given the problems he indicates for the Bolivian situation. Why would anyone want to take up his invitation to buy it?