I believe it was around the first of September that we received word that the environmental suggestions were well received by the ministry and the review trip was taken to Las Cristinas.

Unlike most people on this board I do not believe that there will be an announcement from Chavez or anyone. I believe the ministry is working on the details of a complex permit. Having spent some time in VZ I understand that your average office worker probably gets 6 hours of not very productive work in each day and that it simply does not occur to the staff that time is money (a yankee Norte Americano concept). I suspect it could take three months for this permit to get written and approved.

Assuming I am right and we hear no other news, around the first of December I would start looking for opportunites to unload shares but still hold onto a core position.

I believe:

1. There is a lot of gold there and it is in everyone's interest to get it mined.

2. KRY has provided a state of the art plan and it would be foolish to go back to square one.

3. There are a lot of very smart people in VZ despite what the media might want us to believe.