What makes everyone think that VZ is the main holdup? I can certainly see a scenario where the Russians "have told" Chavez that they will mine LC. Chavez then says, ok, but KRY has a legal contract so go ahead and work it out with them because we don't have any more funds to buy anyone out. VZ has confirmed that KRY is in good standing and has met all demands and has been a good citizen. KRY has most likely been negotiating with Russia for a buyout and VZ on a JV depending on which way this breaks.

1. If Russia bails, then KRY is still in the game to mine LC under a JV scenario with VZ. I personally don't think VZ cares who mines LC as long as it fits their new JV model.

2. If Russia bails and KRY can't form an acceptible JV with VZ, then they file for arbitration for withholding the permit.

In my opinion, the Russians are driving this ship, not VZ. And that is why we get conflicting reports about being in good standing, Russians mining LC, new mining laws which speak of the JV arrangement, arbitration, negotiations, etc. This scenario is the only thing I can come up with that fits all this in. Just my two cents. Feel free to tear it apart.