Unfortunately Chavez hates the west, which includes Canada. In the mining sector we get a real taste of his dislike when he quickly promotes the Russian Projects with GRZ and KRY totally ignored. It is becoming apparent that Chavez does not like the current deal with the Chinese and KRY, otherwise this would of been approved as fast as the Russian projects. We certainly know the Chinese are interested in Las Cristinas, so what this might mean is that they buyout KRY 1/3 and attain the entire project to Chavez's liking. The hesitation of the Chinese on this part is the lack of obtaining the environmental permit from Chavez. This sticking point is confusing since the easiest thing for the Chinese to do is to buy out KRY, and obtain the permit. At this point the cards are in Fung's hand does he go to arbitration or does he negoitate a buy-out. I would bet he would negoitate a buy-out, and at what price would be acceptable to share holders. Fung had mentioned 2 billion arbitration value before the chinese involvement. 1/3 of that with the chinese assuming all the debt would leave us around 1.40/ share. Sucks

Have a good Holiday. and JMHo