posted on
May 10, 2008 06:38AM
Very nice find! I see this report is also covered on Vheadline Venezuela, but coming from Bloomberg it should have a more postive effect on our SP. If there is validitiy to this report we will know very soon and given the permit denial was out of the blue timed around a VZ national holiday and totally unexpected, lead me to believe something was rotten in denmark. It appears, and I repeat that it appears, that according to the comment from Ortega that a comment on some type of remediation (soil reclamation I am assuming) and permits may be issued. I think we are witnessing some major back peddling and attempted damage control or politcal cover our butts going on here. At this stage we will take anything (I know I will), but let me say this, if the permits are issued there will be many fund managers and private investors who unloaded positions find themselves scratching their heads, who will be on the phones to their brokers and lawyers only to be told about the political risk of investing in VZ and the apparent flip flop in decisions. We are still not out of the woods yet, but it is very nice to read the bloomberg article with a sense of perhaps positive things could still happen.. I guess we stay tuned. Gook luck all.