The difference between the Russians and the Chinese is cash and DD.

The partner of choice Rusoro will do or say anything believing that in the end Hugo won't f'''' them. Agapov said last year the the new rules with the BCV wouldn't be a problem. OPPS, it sure looks good on the slime ball now!!!!

I don't see China going along with the whole BCV gold sale law. There is no way they will invest all that money and then let Hugo and the BCV tell them they must sell the gold at a 50% discount.

In the end I can see a situation where a JV with VZ would allow China to keep their 50% of the gold to sell at spot and VZ will keep their 50% to what ever they want.

The talk of Rusoro shutting down because of the 70% VZ sale rule is different from the VenRus which is a state company. From the article posted earlier it mentions that they JV companies only have to sell 50%.

Leaders Eladio Rojas and Carlos Gonzalez, members of the union of heavy machinery and civil works in Bolivar State, as well as Douglas Robles, general secretary of the organization Union of Mineworkers of Guyana, the authorities asked the BCV to give private companies the same opportunities that give state enterprises, ie the ability to distribute and market the gold exploited in figures 50 percent fair to both parties.

If this is true, I'm happy to let Rusoro fight the battle for equal treatment.

The current gold sale law isn't good for anyone but if I had to pick a partner in the fight it would be China. The other good thing for us is that we are 2 years away from mining and by then just maybe Hugo will be gone.