It seems to me that it is no longer a question whether we exist, or continue to be in limbo, but rather in what kind of situation.

From rumours on forums, and even from some news media, the suggestion is that the Ministry of Basic Industry and Mining (MIBAM) will be split into separate Mining and Industry ministries with Sanz remaining the head of mining.

It is a question of whether Gold Reserve will remain a concession holder and be able to build the mine or be forced into a partnership with the government or contractual status similar to our neighbour Crystallex. The 'no concessions' comments may only mean no New concessions. That is where the fog seems to be the thickest for GRZ.

It seems obvious to me that the government is likely looking to a single mine being built and operate both Brisas and Cristinas from the economical (efficient ) perspective and also from the environmental aspects of Crystallex not having obtained the copper rights.

There is probably 500,000 tons of copper in Cristinas and to not recover it but let it loose into a taillings pond is just waiting for a disaster to occur. That is probably the main reason Ministry of the Environment and Natural Resources of Venezuela (MinAmb) did not give KRY the environmental permit. Operating both resources (actually one merely split by an ownership boundary) seems the most logical solution.

While there are rumours of pressure to grant portions of Christinas to local miners that seems also an invitation for a disaster. If the evnironment ministry is as adamant about protecting the local forest then that route is not likely to happen. It is far better for the local miners to be hired by the internationals to work within the large mine, earn decent salaries and not take environmental risks.

They may also be waiting for the Vannessa issue to be decided before making any final decisions - that might limit the Vannessa compensation.

So if you read comments that we are toast, take it with a large dose of salt. It looks quite the opposite to me and no reason for such a low share price. Cheers.