...GRZ might expect an arbitration decision? Assuming Venezuela cares at all about developing mining on a large scale, they'll have to do it with other people's money. After F'g GRZ, the head of one of the mining unions was quoted as saying that Vz. is looking for foreign investment to develop Las Brisas (makes a lot of sense don't it?). In any event....someone other than Venezuela is going to have to come up with some big bucks to develop any of these big mines....Las Brisas, Las Cristinas, etc. If there is anyone left on the planet willing to invest money in Venezuela, I'm sure they will want iron clad legal assurances from Venezuela to protect their financial interest if they step in to develop a mine tied up in an international arbitration dispute.

So Venezuela will find itself in the position of paying any applicable IA awards just for the privalege of cutting what may or may not be a more lucrative deal with a politically correct partner, all while indefinately delaying mine development\construction and paying ongoing legal expenses.

As far as KRY is concerned, I don't think Vz. gives a rat's ass about any looming arbitration deadline. Nothing changes from their perspective. They still have YEARS to continue negotiations with the option of reaching an agreement before an award is made.

GRZ is another matter. The arbitration decision will be rendered in the not too distant future. I would think this would be an incentive for Vz. to reach some sort of resolution with KRY as well as GRZ....especially if their plan is to develop Km 88 in a large scale, coordinated manner (regardless who the partner(s) of choice are).