I have to say that I'm shocked and wrong...I never would have believed that Chavez would do what he just did...I've been telling people that "no way will Chavez just walk in and Nationalize in a big way'. First, they don't have the money to pay for all that, but as well, it would be the last nail in the coffin of any pretext that Venezuela is a Democratic country......this will mean that the few western companies that would still have invested in VZ will be, at this very moment, having serious second thoughts.

In the past, he has paid fair value for most of his takeovers or 'joint ventures'. But there has been a line up of companies either waiting for their money, or waiting for arbitration, and THEN waiting for their money. Now that queue just got longer, and $$$ is getting even less available to pay for it all.

I have to say that this is the first time in years that I am actually worried about our situation, and what Chavez might do. He is truly a wild card, to put it mildly, a true wolf in sheeps clothing, and KRY's 'meat' might just prove too tempting after the mine opens....

I've just decided that I've moved over to the 'buyout' camp, and pray to god that that is in the works.

IMHO :(