This has been extremely expensive entertainment for the last 14 years for many of us. Realizing the risks and rewards I have been calm (occasionally very disappointed) about everything to date. This “out of the blue” statement is a problem for me, a new big crack in my confidence in management.

There have been numerous statements that the VZ government has not been happy with the KRY effort develop Las Cristinas. We could all list a number of political or ideological issues. I always thought that our management was experienced or sagacious enough in VZ with contacts in many places and at many levels. Apparently, that was not the case. I had thought that discretion was keeping them quiet about the details of various discussions with VZ officials. It looks now like it was ignorance.

This “out of the blue” statement by our management team is damning.

The time for patience and diplomacy is over. It is not time for a bold plan that needs to be communicated with shareholders.