assuming we dont go to arbitration (big assumption)....personally i think we should file asap, but....i do like the idea of getting a permit (regardless of the current gold sale decree) because by the time we produce who knows what the situation will be in ven.....new govt? new laws? new exchange rate? new price of gold?

in the end, any law that effectively "nationalizes" or "makes our contract worthless by design" is going to be something we can take to ICSID anyway...it states it more eloquently in the BIT, but basically any law put in place to create the same effect as a nationalization is something we can take to court..

1. the gold sale decree has affected the russians to the point where they are considering closing thier operations....this is good for us because it might finally get the ruskies off our backs..

2. we wont have to worry about gold sales for some time (almost til election time) which as things look right now will probably bring a new govt to ven (if it has'nt already happened by then)...

3. the illegal miners are getting concerned because they know that destroying the environment is one thing (not really enforced by govt) but anyone who engages in blackmarket sales is going to get hammered...

just thinking out loud...