gw, has been asking how we would get funded in case of an arbitration but financially i would think it is a good investment for somebody...maybe i'm wrong but i'd think you could buy kry and settle with the note holders for about $300mil..in exchange, you'd get the equipment, the 300+mil writedown, and a $2bil icsid case....it sounds pretty simplified but i believe some number cruncher could make this work...

maybe the question we should be asking is what is the writedown worth to a larger company that actually has profits?

CJR....I agree with that...especially in light of the upcoming 2012 Venezuelan presidential elections. Unless Hugo plans to hold onto power by force (always a possibility), he may very well be booted out in 2012 since the fruits of his misguided economic policies are being felt at all levels of society. Let's hope that the price of oil stays relatively low so that it diminishes his ability to buy votes. RM told me on the phone Friday that KRY has funds to last at least another year should arbitration need to be filed in April. He indicated that this time frame is based on the fact that the first year of arbitration is relatively inexpensive. It is years 2, 3 & 4 that costs escalate to pay for expert testimony, etc. My understanding (correct me if I'm wrong) is that our arbitration award is linked to the price of gold at the time we file. From this standpoint, delaying arbitration (assuming the CRRC deal doesn't work out) works to our ultimate advantage if we can manage finance it. If I was CRRC and I thought that a Barrick or Newmont might swoop in to finance KRY thru arbitration (via buyout or other legal arrangement that didn't jeopardize the MOC), I would make damn sure that I got this deal done (they got 2 F'n thirds for Christ's sake!) or figured out a way to outlast Chavez's stalling tactics (i.e. buyout prior to arbitration deadline if necessary?). If this is our "Plan B", I wonder what the buyout price might be. That certainly would be a function of how many other bidders might be sticking their noses und the KRY tent. I have to believe that any "Plan B" is being held very, very tight to the vest.