Based on the latest wording from Richard Marshall, and recent conversations as well, can we just agree on one thing?: This proposed joint venture with the Chinese is NOT a done deal.

It never was. If you look at the wording at the AGM the Chinese "sought assurances" but no word if they ever got it. The CRRC had meetings but no solid evidence as to the outcome.

A joint venture with the CRRC is important to keep KRY alive but it really means nothing without the permit.

And the permit is, in no way, just a formality. If it was Marshall would not use the word, "encouraging".

And "ultimately the success of the transaction (joint venture) remains in the Venezuelans hands" To me, that means the joint venture won't happen until it is approved by Chavez.

As always the unpredictable Chavez holds all the cards.

Cividale