This might look as if it should be off-topic but rest assured that it is not. If one had listened in as I did, you could have very easily substituted KRY for GRZ, given that the comments and concerns were so similar to what is posted within this group. So without further ado here goes. Note that the reader should consider bolding to be my personal comments or thoughts about something expressed on the call. Note also that these are terse phrases; the writer will assume that you have followed this group for some time now and that you will be able to read between the lines. Please do not blame the writer for errors/omissions/comissions.

1. Belanger (ceo/president) led the call.
2. GRZ received its permit last March.
3. Waiting for the 'inititation act' sound familiar? This issue is very straightfoward, only requires a signature, have had numerous meetings attempting to conclude situation. I believe it sounded as if it was not some bureaucrat who was against project, but more that someone needed to be acting; ie carrying it forward, up to Hugo if need be. Sanz name was NOT mentioned.
4. GRZ has expressions of local community support.
5. Engineering is 75% complete.
6. GRZ advantage re location (Venz); cost of energy, copper, believe it was suggested that overall gold costs @ $300/ounce
7. GRZ management is frustrated but have resolve.
8. Road issue was resolved.
9. have drilling permit for Choco 5; now looking for drill, note to myself, reverse circulation drill better than diamond drill for geological terrain
10. The 'No' vote changed some of the political players and has had effect across country
11. Mining is not a strategic activity in VZ. Not good/not bad. The indications are that VZ only takes over things that are strategic to the functioning of the country if not proceding as they see fit. And before anyone reading this says anything, I know that VZ owns the ore. The strategic downside is that mining is not high priority politically so be ready to be sitting on your hands - hey, we've been doing that.
12. GRZ finds the stock price (down) to be mind-boggling. Ditto
13. Juniors are underperforming which is unprecedented in previous cycles.
14. Question period followed - majority were institutional with a few frustrated retail investors.
15. Some interest in whether Chinese would become involved; either equity or debt finance. This reminded me of Britnick's comments about Fung having possibly travelled to China and potential involvement from them - could KRY possibly be ahead of the curve on this one?
16. China now has significant involvement in Panama Canal which would give them better access to VZ oil et al. Interesting comment reaffirming what I had read previously
17. Some time spent expressing frustration with 'short' trading. Suggestions that corporate buy-backs could solve problem but ceo suggested that relief would only be temporary. The solution is to make progress on 'inititation act'.
18. "I wish Crystallex would get their permit so it could be put to bed" I believe this is a word for word quote by ceo - last few words could be different as I was writing as fast as my little old fingers would allow.
19. Someone suggesed that most permits are issued in the spring time but ceo suggested that this is not the norm.
20. Cement nationalization was mentioned. It was suggested that Hugo had warned some time ago that this would occur if the issues had not improved. Cement is considered to be strategic.

To repeat, GRZ is experiencing the same frustration that we are. I am comforted by the indication that mining is not strategic to VZ, being mindful of course that this has the downside of time sliding along as we are all painfully aware.