long, at this point, all we know is that the PP has'nt closed in the timeframe mngt originally thought (as per the PR).

arguing that mngt is trying to renogiate better terms with the investors is just as unlikely in my book as the argument that big investors are holding off on the PP to get better terms.

my guess is that some folks who promised money on the PP just hav'nt sent a check. otherwise, it would be closed.

in your post you said RM's response was: " In regards to the "over subscribed", he stated that until money is in the bank, he won't even use the word commitment.

well, that pretty much sums it up... they dont have the money in the bank... it's NOT over subscribed... at this point it's not even fully subscribed.

what absolutely amazes me is that over the past couple years venezuela easily could have bought bonds/commons in kry to give them a controlling interest in the company and just shut the SOB down for less than what arbitration would cost... it will be interesting to see how this PP works out. for those of you who have a boatload i hope it pays off.