No, we agree.

It was EZ who wants to use the filing date as the date for calculations of the date of default not me. I was simply pointing out to him the error of that assumption and the additional ramifications if it were true.

To clarify, the POG and the status of the deal at the date of the actual default event which was April 2009 will be used. Changes in metal prices of deals done with the Chinese after that date are not relevant.

While many speculate as to Hugo's motives are, time is on his side. He can wait out anyone providing he is prepared to discount the income that Las Cristinas would bring in. There is little point IMO in delaying arbitration as that delay plays into his hands and KRY is NOT as EZ seems to believe gaining due to the rise of the POG in the interim. That price was set 2 years ago.