I was not clear regarding the open pit mining.

My point is that the current stance is that there will be no open pit mining. I understand it can be overturned.

I was discussing this in the context of a Rusoro acquisition. It goes like this. Rusoro acuires KRY/GRZ and open pit mining is reversed. It will be obvious that Chavez did this to accommodate the Russians and the rule of law, whatever is left of it, will evaporate and any basis for doing any biz in Vz.

Chavez will then be on record as saying that he is willing to screw anyone over be they Chinese, Russian, Canadian etc. What kind of basis is that to do anything?

This also does not take into consideration that Hugs is going to lose between 1/3rd to 1/2 of the governorships in the November elections and half of the popular vote. The state of Bolivar is not with Chavez right now. A successful Rusoro gambit would make things even worse.

All the multinationals are no doubt aware of potential screwings and these kinds of games with Rusoro would confirm that there is absolutely no reason to do anything in Vz. It looks more like Chavez is paralyzed when his ex wife is running against him, and she was seemingly instrumental in getting his referendum defeated last year I'd say he is rather weak and has to come in hat in hand. Gil.