The Las Cristinas goldfield has more than 62,000,000 ounces of gold, around $70,000 million and Sanz again states that the government is seeking partners to exploit the mine under the socialist joint venture system.

Pretty much exactly what I expect to happen. Venezuela will announce a deal with a Chinese miner, under the "socialist joint venture system". This deal will have been brokered by Fung and we may still end up being the operator of the project - who knows?

I just wish that they'd get the hell on with it. Everybody wins. Hugo gets his deal with the commies. China gets the gold and we get a few bucks. A few people who really badly need the income, get a few jobs.