I think the greater concern here is the BS we are being fed. With the Chinese JV deal, RM once told me the permit was in no way a requirement to close the deal. Later he said that of course this was a requirement. RM stated in an email to me that the company was pleased with the PP and interest exceeded the $120 million. Later he said he understood the final papers were being worked and he expected this to close shortly. Today he says he has not been involved in the finance discussions so he does not know whether the $80 million is true or whether the current bondholders are being pursued for participation. So his previous statements that we were just finishing up paperwork were also BS. We saw the same kind of BS with the permit and the Chinese JV.

Now we hear that only $80 million has been raised and they need to solicit the bond holders for the rest. We all know that means even less of the pie for us. I trust the sources if indeed No-Bear and Tuet concur, even though they also said we would close several fridays ago and a definitive close on December 9th. Things change and I trust they are more "in" than any of us and willing to share what they know, good or bad.

I have lost over $160k in this and with the few shares I still hold will never recover that. The idea that Fung is a finance genious....80 of 120 is 67% and most schools would call that a "D" at best. But Fung and his team have been getting a very decent salary so the are well off. He doesn't invest his own money in the company and his actions show he cares little for retail investors. The so called poor CEO of GRZ was able to negotiate better bond holder deals and has increases their PPS for shareholders.

I do think this will be resolved for no other reason than the current bondholders would lose too much without a deal, but I don't think retail shareholders will get much from it. That's OK in Fung's mind. I should have sold my remaining shares a long time ago and now I have only myself to blame. I will continue in this play because I really have little left to lose but I do not want to hear about Fung's genius or how it was not his fault. GRZ was able to maintain shareholder value. Fung's job was to improve shareholder value. I would not be surprised if this passes the Decembere 23rd deadline and we hear nothing until a vague reference in the Q1 2012 filings to the deal being done. This is unfortunately the KRY way.

I think we have all gotten too much into defending Fung and thus justifying our mistake of investing in this company. Investors who have expressed doubts have been blasted and sometimes banned. This is the main reason I have been silent for so long. Most of us are in huge losses yet the risk of staying in vs selling out is minimized with the reeduced value of our investments. I don't expect to get anything but I am not selling because there is always a chance to gain a little more than what I can at .12 per share.

Ban me, bash me or trash me, but I think KRY has mismanaged this whole deal. Even if Chavez gave us a $3.8 billion settlement I would not invest in KRY again. The market woud seem to agree with my dissilusion.

I hope everyone comes out of this higher than we are today, but I doubt any of us will see a profit. Good luck to all. I feel your pain and have experienced it. Ianvestor65 signing off.