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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: ChanceIs who wrote (76846)	12/26/2006 11:35:19 PM
From: ames	Read Replies (2) of 206223

I think it would be wise not to underestimate the risk in Peru, though as you say reward is proportionate to risk. The nationalization reflex in Brazil, VZ, Ecuador, Russia, Kaz, etc etc is a global phenomenon, and Bolivia and Peru are somewhere in the parade. IMO the problem would be not ideological mugging so much as the volatility of Peruvian politics, in which any leadership has some harsh electoral passions to contend with. There's a new doc on DVD called something like "Our Business Is Crisis," which follows US political consultants (James Carville & Co) through the process of getting the N. Am-oriented "Goni" elected pres in Bolivia - which they did, only to have him forced to flee the office after backing legislation that provoked riots that left some bodies in the street. Peru is not the local country club. But so far it's seeming reliable. Whether local politics in Peru will affect financing for BPZ's ambitious project remains to be seen. As the tide of capital flows out of N Am to Asia and OPEC, it's indirectly creating some new financing opportunities for countries like Peru.

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