So let me see if I have this straight?

1. Yubiri Ortega, Minister of Environment and Natural Resources of Venezuela (MinAmb) who opposes international companies extracting Venezuela's resources and believes there is irreversible environmental destruction and with some type of remediation to correct this irreversible destruction both KRY and GRZ may still get their permits. Let me see, wasn't it MinAmb who approved the EIS in the first place! Was Minister Ortega not involved in the approval process. Something not sitting right here! Yes, corruption in the first degree, which was posted in the Vheadline article today. Her is the link: http://vheadlinevenezuelanews.blogsp...

2. Since KRY owns nothing and has a partnership with the Corporacion Venezolana de Guayana (CVG), all communications about approvals and permits are communicated though the CVG. It was in June of 2007 that the CVG received notification from MinAmb (Minister Ortega's group) that the EIS (Environment Impact Study) has been approved and requested the CVG post the applicable compliance bonds and certain environmental taxes. KRY has posted and paid all bonds/taxes and have met the requirements for the issuance of the permit. And by the way the formal notice from MinAmb sent to the CVG stated and I quote, "the Environmental permit will be issued following payment of taxes and posting of the bond." Let me see, Minister Ortega approves the EIS, but flip flops denying a permit or in GRZ's case revoking the permit, (ok not directly Ortega but rather a low level offical to which she apparently know nothing about timed around a national holiday) but now is saying that the permits may be issued. Wow! What the hell is going on here! No wonder the world is looking at VZ and asking who wants the risk to invest in VZ.

3. If not for Mr. Rodolfo Sanz, who was recently appointed the Minister of MIBAM and President of the CVG and who also has direct involvement in the Las Cristinas projects I would say our chances of success would have been muted. Sanz appears to have the ear of Mr. Chavez and a person who acts to get projects moving. Now according to the recent comments from Minister Ortega as reported on Bloomberg, Mr. Chavez has met with both Ortega and Sanz and a decision on the permits to be announced as early as next week. this is the link to the bloomberg article: http://www.bloomberg.com/apps/news?p...

YES, that is correct I said next week. For those who have been around for awhile realize that if an annoucement on permits is next week we should all rejoice and celebrate because a VZ week may not be the same week you and I are use to. This may be another test of your patience as the VZ time lines do not always match the civilized western world time line. But should the permits come next week we will have witnessed a first. I suspect you may be tested.

Welcome to investing in VZ and introduction to geopolitical risk. We are all witnessing what it feels like to invest in unsafe parts of the world. Remember with risk is also rewards and perhaps we are on the cusp of receiving our just rewards. And it appears that Mr. Chavez, the one call by many names, has the last say about what your rewards will be. Bring on Monday and lets get this game going. I wonder if there is another surprise yet to happen......bring it on.....