I believe if GRZ gets a settlement this year that will be good news for KRY but I don't think a settlement for GRZ will mean that much to KRY because I don't think the market sees a link between the two. We might hopefully get a bump up to 20-30 cents but I doubt much higher and I doubt it will last.

In the last year GRZ has gone up over 250% while KRY has fallen over 60%.

If you look at those numbers it appears as if the market believes KRY will file for bankruptcy before there is any pressure on Ven for a settlement.

Certainly, I think you'll agree, Chavez has done what he can to push KRY into bankruptcy and he may get his way. Fung only has 6 months to convince the bondholders to wait out the arbitration or find someone else to throw us a lifeline.

It will be interesting to see what happens at the AGM but I doubt Fung will say more than, "We're working on it". And even if he does say the bondholders have agreed to hold off demanding their money the market's reaction may be quite muted.

I say this because of how the market reacted to Fung's announcement at the last AGM about the proposed deal with the Chinese: The market gave that news a big yawn.

As always, I hope I'm wrong about all this. I hope GRZ gets a big settlement and that KRY then rises above a dollar and I can get out bruised but not missing any limbs.

But I doubt I'll get that lucky after all these years of holding on to the dream.

Cividale