imo

1. it's pretty obvious we'll have a resolution very soon...of some sort.

2. the decree for sale of gold to the central bank does one thing and one thing only....it allows venezuela to pick and choose how much (up to 70%) of the gold a mining company produces gets sold to the central bank..

this is about currency valuation/exchange rate...nothing else. the central bank of ven values the bolivar at 1/2 of the "unofficial" rate...effectively, this decree would allow ven to buy gold at half price...it would also allow ven to buy 70% of one miners gold and none from another...

imo this decree is a bargaining chip designed specifically for the LC/LB dillema. since this decree was put in place after the notification to the ven govt of the dispute i dont think it would affect valuation in ICSID. but it would certainly affect valuation if ven granted the permit now....

conclusion: as long as the offer from POLYUS (or others) starts with the words "a minimum of $2 cash and"....i say we get the hell out of venezuela