we aren't really sure what is happening and that's not OK. If the ninety days expire or have expired without some clear indication that things are on track then I think management must take steps within a reasonable time (1-3 months) to protect the shareholders.

There are some indications that things may not be on track.

1. Hugo's comment about taking back one of the world's largest gold properties.

2. The Mibam rep's comment about consolidating LC and LB to reduce the environmental impact.

3. Some indications over the years that VZ is not entirely OK with throwing away a billion pounds of copper.

4. Doug Belanger's statement that VZ had enquired about GRZ and VZ doing a JV on LC.

It may very well be time to spread the risk around. GRZ has (according to GLOBEINVESTOR) a book value north of $3.00 and after the next equipment sale they will have over $2.00/sh. cash. Sounds like one for Warren Buffet. I know. It's too small.

There are so many great gold miners like YRI available at incredibly low prices that it is becoming hard to justify hanging on for the permit.

Seeing management try to go to the trough one more time doesn't help. Looks like they are more interested in mining KRY than in mining LC.

And please! No violations. I am long KRY and I am not a basher. I just don't want to live in lala land. Let's have an intelligent dialogue that examines both sides of an issue without treating the opposition the way Hugo treats it.