Rio takes over SUE

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goldhunter11

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Rio takes over SUE

posted on May 21, 2014 06:05PM

From SH Biotechguy1 post: "4 million ounces....quite a bit of silver...so say about 5,000,000 ounces Au at less than 0.75 gm / ton. Hmmm... well that makes PRB worth at least double ?"

SUE jumped 35% to Mkt Cap of $327M (for ~4MozAu and silver of ~1MozAuEq).

Probe LGZ alone has about the same ounces, in Canada, with excellent infrastructure, while SUE mine is in northern Peru. The location factors (including a more stable jurisdiction) should give PRB an edge over this, more than a factor of 2 (or 3?). That would bring it to the >$600M Iamgold paid for TRR Cote Lake.

SUE was one of the 5(?) companies (including PRB) that AEM put down a chunk of money each for part of the companies (for investment purposes).