EZ, I don't disagree that arbitration looks better every day assuming we can get the bondholders on board.

I don't really know if the sale issue is stated in the MOC, but it seems that the value of the right to sell the gold is being partially impaired, which could be a claim under the ICSID even if we were mining the gold. If we cannot sell the gold on a rational market, the value of our investment is impaired and could come under the expropriation clause of the BIT.

I don't know that it would make much difference if we go to arbitration due to no permit though, since the valuation would not be affected by this latest bonehead VN manuever as far as I can tell.