An example would be that VZ is looking at a JV model as suggested many times by Sanz and Hugo. Part of any deal would be to buy out KRY's contract. If VZ was simply looking for partners for a JV and they plan to ignore our contract they would have done so already. VZ would be the party sued or taken to arbitration not the new partner. This is the legal problem Sanz referred to a year and a half ago.

No new JV partner would touch any deal without the permit. Given the new oil deal and the strings attached not many companies may like the terms of a JV for gold but some will.

Let say VZ has been trying to bankrupt us or unfavorably change the terms of our contract to proceed to get rid of us. It worked with GRZ but Fung won`t flinch. Fung said our contract is we go to arbitration was worth north of 2 billion dollars and has no plans of taking any less. After paying off the noteholders we are left with about $6 a share. At this point in time I doubt anyone here would say no to $6 a share.

If VZ is shopping for a JV partner using 62 million ounces of gold as a golden carrot I would have to imagine there will be interest but no unless all permits to start come with the JV. Lets just look at LC which has probably close to 30 million ounces in today's market. What would a JV with all permits be worth. What would the 30 million ounces be worth with gold at $1200 and production costs around $300 an ounce.

Maybe the process is waiting for a JV partner willing to pony up 2 billion to buy up our contract.