Some time ago in an interview Minister Sanz when asked about LC and the new mining law, said that he would not comment on it because the fact will be speculated on for a gain;

than this Rusoro JV came along being said that was the partnership of choice for Venezuela.

Now we have three model of cooperation with the State:

Rusoro....JV

LC..........contract

Grz.........concession

and this are only for some of the gold companies.

there are many more mining projects going on and we are wondering why it is taking so long to come out with the new mining law?

It is very difficult for Sanz ,in the short time that he has been in charge, to connect all the necessities and visions and concerns of everyone effected; i would also include the vociferous miners.

to conclude:

Sanz does not want his project destabilized ,because any party can take advantage and twist events for their own gain, but he would like to come out from a project to a fair and equal mining law of the land.

We worry about the SP ,and rightly so ,but the fluctuation is only due to the market rumblings ,the only danger is a forced takeover because the low SP .

Maybe raining today but sunshine and warm weather is in the forecast.

As usual my way of seeing it.

oiramoric