Re: Bloomberg Reported - March 5/08
posted on
Mar 22, 2008 05:27PM
Regarding a change to minority partner status...a no-brainer...however, if I was responsible for getting the fledgling mining sector off the ground I might wait for announcing the change in terms. After all...Hugo doesn't lose money on the deal until gold is actually mined. Bear in mind...we still need the final "Permit to exploit" after the mine is built. At that point Hugo could change the terms so KRY had minority status. That approach would increase confidence in the sector as Sanz tries to lure foreign investment and help us as shareholders in the meantime.