What is he true value of the opportunity cost (for Venezuela) to have Las Cristinas sit idle year after year after year after year?...
The opportunity cost? Hugo still has the opportunity with the gold in the ground. We have the cost.
Hugo can argue that he has maximized the value of VZ gold by holding from 300 to 1400 an ounce, while in the mean time getting hospitals, water treatment, housing, roads at no more cost then his socialist mumblings and promises. Like the cowboy who sells his cattle then runs them around the facility only to sell them again and again never intending to deliver.
Maybe Hugo thinks the dollar is going to tank so he plans to stall until arbitration then pay the settlement in banana republic dollars with Obama’s picture on them.
With that much gold in the ground there will always be some funding source available to VZ to exploit. After all business is business and if he tells china no today - well that isn't to say that the deal wont look right to both parties later on down the road.
I think I’ve discovered where Arthur Laugher has been hiding out - in VZ