this is about currency valuation/exchange rate...nothing else. the central bank of ven values the bolivar at 1/2 of the "unofficial" rate...effectively, this decree would allow ven to buy gold at half price...it would also allow ven to buy 70% of one miners gold and none from another...

imo this decree is a bargaining chip designed specifically for the LC/LB dillema. since this decree was put in place after the notification to the ven govt of the dispute i dont think it would affect valuation in ICSID. but it would certainly affect valuation if ven granted the permit now....

conclusion: as long as the offer from POLYUS (or others) starts with the words "a minimum of $2 cash and"....i say we get the hell out of venezuela

EXACTLY! Hopefully we have that choice CJR. I'd take the 2 bucks and run. If anyone on this board thinks that we are going to get the permit before May 28th with no strings attached they are (imho) braindead.