I received the following general comments from the head of a...

I received the following general comments from the head of a Peruvian focused gold miner listed on the TSX/AIM. I dont wish to name the company, but it is interesting to see that from their perspective (as a current operator with other development projects) it is basically 'business as usual'


"1. Gana Peru, the winning party of the election of yesterday is a centre left government

2. Ollanta Humala the incoming President has announced publically today that there will be no change to the economic model currently operating successfully in Peru, and that Gana Peru will work towards the continued positive momentum of the economy

3. This President will emphasize social inclusion ? which will be good for the country

4. The upcoming Prime Minister, Minister of Economy and the President of the Central Bank will be announced as soon as possible ? probably within the next 48 hours. Humala has said he will look outside of his party for independent qualified technicians to fulfill these roles, probably from ex-President Alejandro Toledo?s previous team

5. Alejandro Toledo sided with Humala in the weeks prior to this victory. During Toledo's five years as president, Peru's economy experienced 47 consecutive months of growth and grew at an average rate of 6% per year while inflation averaged 1.5% and the deficit sank as low as .2% of GDP

6. Humala will have to work with an opposition controlled Congress, as his Gana Peru Party only controls 47 seats, or 36% of congress votes. He will have a simple majority in issues where he is supported by Alejandro Toledo?s party Peru Posible, which controls 68 seats (thereby giving a combined vote of 52%). Or Humala can use a referendum.

7. Humala has tried to distance himself from Chavez in recent months despite Chavez trying to claim Humala as ?one of his own?."