It appears that there is still a huge conflict between the political side and the few practical people at the lower levels of the Venezuelan government. Hugo has been sounding off with his "pronouncements", but when these ill considered "sound bites" get shifted to the working technical engineers and lawers in the mining departments for implementation, reality sets in and there is a lot of back peddling and arse covering. Hugo can promise the world to his people, but he cannot deliver.

The reality seems to be that Hugo has a grand concept of nationalisation, but it is not a plan which cannot be implemented from any standpoint, legal, financial or engineering.

Rusoro has crept into the back door, with equally impossible promises, and Hugo likes what he hears even though on analysis (something Hugo never does personally) it is obvious that they cannot deliver either.

Hopefully the more rational heads will prevail and a decent compromise will result so that GRZ and KRY can complete their plans and start their respective mines to the betterment of everyone, including the Venezuelan people. Anything else will result in delays, losses and legal chaos for all parties concerned, but if Hugo prevails then that's about all that I can see in the future.

Actually I am an optimist and providing that the various departments can come up with something face saving for Hugo, I think a deal that includes KRY and GRZ mining their respective properties (with a few cosmetic changes) will go ahead.