In my previous post I indicated that I would have thought that KRY's SP would have dropped because of the comments made from Ortega on no open pit mining. One could argue that the SP opened lower on Friday and recovered by the end of the day, but did I miss something (and not KRY's NR) from a VZ officical that gave support to the SP? I have posted a Bloomberg article from May 16th that supports my comment that KRY's SP may also fall. I am still looking to see if the Environment Minister did in fact say on Friday that Chavez may still grant a permit.

Bloomberg article:

EnCana, Goldcorp, Teck, RIM May Gain; Crystallex May Fall

By John Kipphoff

May 16 (Bloomberg) -- EnCana Corp. and Goldcorp Inc. may rise, based on bids on the Toronto Stock Exchange, on record crude oil and climbing metals prices.

Research In Motion Ltd. may advance, following a Wall Street Journal report that it will start selling a model with a touch screen in the third quarter, taking on Apple Inc.'s iPhone. Crystallex International Inc. may drop after Venezuela said yesterday that it won't receive approval for an open-pit gold mine.

The Standard & Poor's/TSX Composite Index rose 1.4 percent to a record 14,828.06 yesterday in Toronto, and is poised for 2.1 percent weekly gain.

EnCana, the nation's biggest energy company by market value, may climb C$1.50 to C$93.50, bids already submitted in Toronto indicated. Suncor Energy Inc., the second-largest oil-sands miner in the world, may gain C$1.15 to C$66.03.

Goldcorp, the world's second-largest bullion miner by market value, may add C$1.45 to C$41.65.

Teck Cominco Ltd., the second-largest zinc miner, may advance C$1.10 to C$51.31. Zinc headed for the biggest weekly gain since November in London as the biggest earthquake in nearly six decades in China curbed output.

Research In Motion may rise C$2.01 to C$143, based on bids. That would be a record for the stock.

Crystallex may fall 14 cents to 70 cents.

To contact the reporter on this story: John Kipphoff in Toronto at jkipphoff@bloomberg.net.