Penderite

The charade of Venezuela and the permits is a political one, as you know well. The Hugo regime has no intention of providing any permits period. KRY's options at obtaining value are limited:

- arbitration (funds needed and Note Holder(s) legal action)

- some form of JV with a 3rd party

- sale or merger

The most likely outcome, in my opinion, is a sale or merger.

To that end I believe management is working behind the scenes to accomplish that goal. Time and money are running out. The chance of another entity offering cash is slim - any sale would be a stock swap (eg. 3 or 4 RML per 1 KRY)

Cheers

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