BK, I can see how some may take this as another road block in Kry getting the permit but I tend to agree with your version.
CARACAS (Dow Jones)--Venezuela is considering opening an international bidding
process to certify part of its mineral reserves, Mining Minister Rodolfo Sanz
said Tuesday.
The word here here is considering and part of its mineral reserves!
The certification process is an essential step in building up the country's
mining industry, Sanz said. The certification phase could last two years, he
told reporters.
This doesn't mention anything about LC or LB which they already know.
The minister also said the administration of President Hugo Chavez is open to
private investment in the industry and that the government wants to partner with
international mining companies.
Nothing negative about open to private investment or partner with international mining companies. (not countries)
Sanz said that companies that want to associate themselves with the government need to show they have enough cash to carry out their investments in Venezuela instead of pledging they will raise financing.
Could be a shot at Kry/Grz/Rml that might be negative if they are using the cash question for withholding the permit. The problem here is that even the biggest companies would finance the mine istead of using cash on hand to build it. My take is they are talking about companies applying to be part of the certification plan for new exploration. They want companies that have the backing to go the distance. There isn't a major in the world that would touch VZ if they screwed Kry/Grz unless they are already part of the plan. That I seriously doubt.
Venezuela is giving priority to its gold and diamond mining industry, where it
is keen to partner with companies from India, Sanz said.
Hugo will say anything to try and get money from countries. He is also trying to make political friends where ever he visits by saying whatever he thinks they want to hear. In the end he wants someone to fund the exploration and certification because they are broke.
