Nothing he says or does can be considered firm and binding. The Chinese are finding this out the hard way. When Hugo needs foreign capital, technology and expertise to develop his country's resources his expropriations, nationalizations and acts of economic terrorism will come back to haunt him.
8 months ago RF was a hero, now almost everyone wants to vilify him and the BOD. I think that RF realized that the permit was not forthcoming and we were dead in the water. Grasping at straws to save his shareholders years of arbitration, he found a partner that Hugo would approve and issue the permit to. Assured by the Vennies, the Chinese and Hugo as well, RF works his butt off to make the JV happen, only to receive the latest CVG decision. Now everyone, in hindsight, realizes we should have filed for arbitration 2 years ago.
Based on past performance, maybe this latest announcement is bogus and is only intended to drive the SP down for insiders to pick up cheap shares. Who would buy all those shares(over 25Mill traded today) in light of the recent CVG announcement?
