I hate to keep bringing up old stuff, but this was a well thought out post from coalsmudge that people should consider along with all the negatives. Do your own DD.


I haven't posted or been here in quite a while and now remember why I stopped.
Except for a couple of post today most are filled with nonsense and misinformation.
The negative postings have some fact but they are twisted to serve their purpose.
Even the positive posts have mistakes in the information.

I don't have the time or will to put forward my opinion but I will say a couple of things.
First off the 20 year contract hasn't started already like someone posted that 6 months have elapsed.
That is a fact and you can go to the MOA to se for your self.

Here is where we are right now. You can believe me or not but if you actually do some DD you will see for yourselves. It takes time and effort but well worth it.

1. Kry has a legal and binding contract with CVG. Some might say that CVG isn't the VZ government but if you go read the minutes of the NA meeting where Cottin made his presentation after the permit denial you will see that not only does the legal counsel for Mibam confirm Kry's contract with the VZ government they also confirm that Cottin's statements were true.

2. Other than biased newspaper stories that have most of their facts wrong, no VZ government official has said publicly that Kry won't be mining Las Cristinas. No one has said the Kry contract won't be honored. Everything being said about the Russians getting LC is conjecture not fact.

3. Kry is following proper procedure in everything they do regarding time lines and social commitments. After the permit was denied they made their presentation to the NA. They meet with vice minister Garcia and other Minamb staff including the guy who actually signed the permit denial to look at the 3 areas of change requested of them. A letter was given to Kry stating they were in good standing and had meet all their obligations.

4. The original permit denial allowed for an appeal that Kry made giving Minamb 90 to respond. They followed up with a writ asking Minamb to consider the letter from the Vice Minister in making their decision. Once the 90 appeal deadline passed Kry was allowed to take the no response as a denial to start the next process. This consists of notification that there is a dispute in which there is 6 month to solve the dispute. All these time frames are spelled out and not arbitrary.

5. Sending this letter to the government was done to comply with their rights as a company in dispute. It was done with VZ having full knowledge it was coming. The lawyer for Mibam mentions our legal rights when she speaks to the NA. She also tell the NA that Mibam has to wait till Kry has exhausted all their rights before they can comment of the situation. That is the reason sanz hasn't clarified his alledged statement on November 5th.

6. It was no coincidence that Sanz alledged statement was made after the 90 appeal had passed and Kry asked for clarification after the 90 day appeal had passed. Before the 90 days sanz couldn't say anything thus his gag order for all Mibam staff.

7.We now have a stituation where Kry has followed all their legal requirements and the ball is in Ortegas court. She will have to answer the burning question as to why the permit hasn't been issued since Kry has done evrything required. She can't say because there will be no mining at LC. We already know that LC is in a designated mining area. We also know that Sanz and Hugo have both talked about mining at LC. Ortega can say anything she wants but she will be forced to sign the permit or be removed by the NA.

8. Does Hugo, Sanz, Ortega or anyone else want Kry to mine LC? It really doesn't matter what they want. The only way out of the contract with Kry is to buy it out or have someone buy Kry itself. Either way the share price won't be .15
The Venezuela Ambassador to France and old Enviornment Minister Perez has said clearly that the VZ government doesn't renege on contracts. Do we believe him? Is he any less credible that other government officials? That is for you to decide. For me he has the least conflict of interest in this whole mess.

9. I don't think anyone really knows why we've been put through this ordeal as shareholders. Only the VZ government knows for sure.

I could go on and on with information that is out in the public domain. All the crap that is floating around on these boards and in the media can be researched if you take the time. I'm not here to recommend buying or selling. That is up to individuals to decide. I probably won't be back here for a while so good luck to everyone.