IMO the permit will reset the risk analysis for Venezuela.

As a baseline, recall that Bolivar Gold was bought at $276 an ounce when gold was around $500, and that would equal about $13.84 a share for KRY at the $550 an ounce reserves number (16.9 million) fully diluted (337 million shares).

Juniors have taken a beating and much of the reason for that seems related to permit and production issues everywhere. KRY has a huge reserve and reasonably low production costs. Higher gold prices will be reflected over time following the permit until production begins or a buyout occurs. The dwindling reseres of the majors will force up the price of juniors with large reseerves.

The negative impact of the rising dollar on US exports and the next shoe that drops in the financial crisis will make the TV pundits wrong again -- gold will come back strong, and certainly before the 18-24 months until full production.

It's all good.

ps. kudos to sasa for the great posts, and the suit. LOL