Now, from what has been reported by members of this board, the hold up is the permit. China won't sign the deal until they get it. This is a very diferent scenario than we had in June when the permit was not required to sign the JV. To me this shows a change in confidence from China.

Just One disagreement with your valuable post. It may seem small, but it implies a major "change in confidence from China". In fact it does not. FYI

Section 4.b. "Conditions Precedent to Closing......."

Government of Venezuela shall have issued the "Permit...".

It was necessary then, as now, for the JV agreement to be signed. I cannot find anything stating or implying a change of confidence. At least not in the open.

AD