No, it doesn't appear the Russians are interested in LC per this article but I wouldn't fully count them out until its all said and done.

Allow me to theorize a bit about what is going on. Why not, its Friday!

I don't believe KRY is totally out of the picture when it comes to mining LC. I think VZ will want them to do it under different terms however. VZ will want the 51/49 JV structure as we have heard over and over. VZ's contribution to the partnership will be the property itself. They won't pay up. They don't have the cash to. So in essence, they steal half the reserves for nothing. And the loss of control would mean that the bondholders money is due immediately. So, Fung has to weigh whether he wants to operate in VZ under these new terms and if so, he has to negotiate with the bondholders to see if they will buy in and amend their terms so the money won't be due. He also has to look at financing options. If none of that is going to fly and the company can't make money under these new terms, then it's off to arbitration. And the fact of the matter there is, if KRY has a strong case (and I believe they do) then KRY will obtain the financing needed to keep the doors open throughout the process. Don't think they won't. They don't need all that much. Their PP investor from a few years ago would most likely pony up a few million to protect their investment. There is a lot to negotiate and talk through and this is why it is taking so long with no decisions or updates IMO.

Have a good weekend guys and gals.