I disagree with the statement the Chinese have lost confidence. The permit and MOC transfer is needed for closing. The permit and MOC isn't need for signing the A&F Agreement. I don't remember seeing anywhere that closing would be 30 days after the vote but do know the vote will be about 25 days after the mailing. I've been told the closing could happen right after the vote. Can you point me to where this is Ian?
The change in strategy could be for many reasons that we can only speculate. Saying the Chinese have lost some confidence is only speculation.
There are many other things that need to be covered besides the permit such as the export license and exchange rate. These could be handled after the permit but if they were included with the permit it would sure be looked upon as we're ready for business.
If there are any other points in the deal with VZ that need to be done it makes more sense that Chins gets them ironed out before signing any deal. If VZ truly wants to avoid arbitration with Kry then they know the March deadline is looming. They have tried painting us in a corner by running us out of money but that didn't work.
I think Kry is actually in a stronger position right now than we were a year ago. We have money in the bank to get past the arbitration time frame in March should this fall apart. We would have a sympathetic potential partner with tons of money who would also be pissed if VZ didn't honour their word.
I've been told neither China or Venezuela want to see this deal negotiated in the media. This is the reason we are not seeing any press releases. Kry isn't interested in pumping the share price even if we are. With all the crap from VZ that KRY is using LC to make money on the stock market it makes sense to not worry about the day to day stock price when the goal is to get full value in the end.
I'm not sure why KRY management doesn't hold many shares but I could speculate it could be to show VZ officials they are not in this for the share price. Probably not the reason but it makes as much sense as saying management has no confidence we will get this done.
We haven't seen Hugo rushing to China as suggested or Aggie spouting off any more now that his share price has gone up. Rml was sitting at .23 leading up to RC's pump and it hit .30 before settling back to .29 after the week of BS. A nice 30% pop if say Aggie or even RC sold some shares on Friday. Now we have the very person Aggie said to ask for details saying he doesn't know anything about Rml taking over LC.
We are one week away from Q3 results which should include an update of where we are in the process. Let's hope we get some positive news.
JJ
