Pen, I believe you and many other people on this board are assuming that China is just going to throw money at KRY for their contract because Fung is Chinese. Do you really believe that? China (as has been stated here several times before) are tough businessmen. They for sure want LC but would love nothing more than to steal it. They will absolutely use any tactic they can to get it as cheaply as they can. If anyone thinks otherwise, you are nuts. Take a step back and see the whole picture. Don't just look at it from KRY's perspective. IMO, KRY isn't filing for arbitration because it signals loss of project control. Plain and simple. If they do it, they are screwed because of the notes coming due. KRY will be forced to present a lowball offer to shareholders for approval. And how will all of you vote when a deal for say $.75-$1 is thrown at you? Would you take it?