They do say that patience is a virtue and with KRY you do need lots of staying power and stamina to follow this play through. My latest communication with KRY (RM) was focused once again around the status of the environemental permit with an emphasis on what could be causing any delays. To me the issue still remains "when" and not "if" the permit is issued and perhaps it is as simple as continuing to wait until the MinAmb workload has had a chance to work it way through the system until such time KRY's permit is top of the list. I have copied his comments below for you to read and for the most part there is not much new here other then basically more of the same: (you will notice a date of when they expect to report Q3 results)
"In my 11 years with the Company I can say that the Venezuelan bureaucratic system is unpredictable when it comes to timing - sometimes items are handled in a timely manner and other times we have seen simple processes drag on for significant time without reason.
Timing of the pending MinAmb permit is up to the MinAmb and Minister and we cannot predict their actions - we remain confident based on the approval announced in June (June 14th press release) and continued dialogue with Venezuelan Officials, the CVG and the recent hearings and findings released by the National Assembly.
We have fulfilled the requirements and posted their requested bond and taxes.
Our advisors inform us that they are aware of a number of projects that they understand are in the final stages like us and are also eagerly awaiting the MinAmb to formalize their approvals.
I expect that we'll be issuing the Q3 financial results around November 15th. Our burn rates should be similar to those reported for the past several quarters."