JJ I like your analysis of what could happen with the JV and expanation of the timeframe.

Pressure being put on by the Chinese?

My understanding is that our deal depends on both KRY and CRRC getting all necesary permissions from Venezuela. I do no think there is any "nodding" involved in getting a gold sales rules and price. Venezuela can spin it any way they want but in the end our agreement ensures we get the same price as CRRC however the deal is structured, if we are new JV (hidden), as investors we get the same too. If some awful Venezuela policy is changed will it be pressure from CRRC, Russoro, or the miners striking that causes it? Gosh forbid Venezuela could ever make a decision based on fairness or good business practice.

The right thing to for Venezuela to do would be to offer at least 95% of the Worldwide spot price in the form of a credit against the taxes and royalties owed by the miners. I hope that this is what they announce. I am sure they could do this anytime and look independent of relenting to pressure because a new revenue stream, gold to value their currency, creation of employment opps and an enviromental cleanup are things they need.

BTW- we are creeping up...... someone must be reading our posts.........

HAHAhAhahahahh :)

Hondo.