Group - KRY has formally received a denial of the permit back in 2008. Since then KRY has gone through all of the appeals, including some revisions to the plan in terms of dealing with certain environmental issues. These plans were deemed "acceptable" and they were supposedly forwarded to Ortega's office for consideration in rethinking the permit denial.

However, Ortega's office and VZ have never responded to the last formal request in the appeal process by KRY, which was in June 2008. This is listed in the Q3.

In our favor is the CVG acknowledgement that we are in compliance with the MOC and that we completed the last of the social projects.

IMHO, Fung is waiting to file because he has no choice. We need funding to get us through. So he is likely working on that while continuing to "talk" with VZ on possible settlements. I'm sure he realizes VZ will never settle and they are just waiting for us to fold. It's my opinion that our ability to get funding would have been strengthened by arbitration filing but I am on the outside looking in and don't have access to what Fung does.