"Sulliden just received the EIA approval. This is a big milestone for the company and also a good message for the local mining industry. The approval will allow Sulliden to derisk the Shahuindo project from the social standpoint, which was one of the main concerns of investors. This approval is even more relevant considering its proximity to the Conga project. Next step for Sulliden will be the construction permit. Out of those three companies, Sulliden is the only one that has already financed the project. It has an arrangement with Barclays and Credit Suisse to provide about 90% of the capital required for the construction. Early this year Agnico-Eagle Mines Ltd. took a 10% stake in the company for $27M, thus covering the remaining 10% of the capex. It shouldn't be a problem for Sulliden to ramp up the project very quickly."
"Sulliden has more than 90% of the capex that is required to build the mine through a debt financing. Sulliden's stock was hammered pretty badly when the company announced an incentive bonus plan, which created a lot of uproar from investors. It has great takeover potential and companies should be looking at Sulliden if they want to expand their footprint in Peru. I'm still very positive on Sulliden."