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Message: Re: The End Is Near--
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Feb 13, 2011 07:41PM

That's right, EZ, the closing o the JV is/was dependent on getting the permit. One item in the related PR that everyone seemed to hang their hat on was the clause that the Chinese had "sought assurances from Vennie that a permit would be forthcoming" to them. I recall Cividale pointing out correctly that everyone seemed to interprete this as meaning that the Chinese had in fact obtained the assurance that a permit was forthcoming, when in fact it literally means that they had asked the Vennies whether a permit would be issued to them, nothing more. Now, I suppose it is open to interpretation whether one wishes to say that KRY's BOD intentionally misled investors, though I can't see how that argument can be, since the words they used are true.

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