For what it is worth, I had a lengthy conversation with RM. Everything is on schedule, the permit may come before or after the vote by shareholders. The deal however does not close regardless of a positive shareholder vote until the permit is recieved. The intent here is to form a real JV that will look at other projects as well. The only valuation of share price post JV is John Ing who put it at 2.50 he would not comment on that price exept to say LC has more good sites for further possible reserves.

He seemed very postive as always and said meetings have occurred between China Rail, Chinese Gov't officials and Chavez regarding LC.

China Rail has some mine experience more in construction but not much gold mine experience. Because they have plant facilities already in Venzuela, construction will move faster.