I also sold yesterday for an 8% loss in six months.
No doubt that this share is cheap based purely on the numbers, but when I factored in the political risk over the next six months and the further delays I decided that it wasn't cheap enough.
The final straw was the disappointing turnout and price for the La Grantja bid (Rio Tinto won as they were the only bidder). Now maybe the other majors who qualified to bid are eagerly waiting to snap up the more attractive Rio Blanco in the next few months after the BFS or in other major projects in Peru ? But more likely (IMO) they are simply waiting for the election and any possible future fallout before putting any money to work in that country. This was my final signal to exit until the situation is clearer.
IMO, DYOR, Good luck to holders.
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