I was listening to today's conference call. Gold Reserve's CEO made it clear that he's given up on Venezuela and now prefers to go the arbitration route and look outside of Venezuela. He also made it clear that with the new laws requiring the sale of 60% to the Venezuelan gov't, it would be economically unfeasible to recover the gold and hard to get any financing of a mine. He also went so far as to say one of the reasons they rejected Rusoro's bid in January was that they new this law was coming and rather get their money out of Venezuela than consider a business combination in Venezula.

I've read some posts here that say our (KRY's) preferred route now is to go through arbitration and that we have enough funds and value in the equipment to take us through the costs involved with my arbitration.

My question is ... if the mines are no longer feasible because of this new law ... at this point wouldn't it be in Chavez's best interest to avoid arbitration (and possible compensation involved), grant the permits knowing full well that it is no longer feasible and impossible to finance???? Tell us to go ahead and mine ... and just watch both companies walk away or settle for any costs already sunk into the projects???