Kry I believe has made their point very clear with this filing. They have filed a claim giving VZ the opportunity of correcting the cancellation of the MOC but the permit must be included. The figure of 3.8 billion isn't a pie in the sky figure like the 5 billion GRZ started with. I asked RF specifically for an amount of damages back in 2008 and his reply was north of 2 billion. Fung has always avoided the flare and grandeur that Doug likes.
I personally would rather see a fair settlement offer over mining at this point. Hugo and VZ can't be trusted to keep their word so in my opinion even getting the permit we would end up being heavily discounted. With arbitration and a settlement we don't have to deal with Hugo anymore. I want the hell out of VZ ASAP!
For those who are worried about how we finance arbitration there are many options. I don't know what they will decide to do or if they already have plans worked out. With a 3.8 billion dollar claim I don't think think it would be hard to convince somebody to interested in high risk/high reward to help. My hope is that we keep the share count down and do the financing with debt.
The question I keep seeing is who would want our debt but to date Kry has not missed one payment on their current debt. The could make a deal with the existing note holders to extend the debt to cover the time frame of arbitration. They could find someone new to buy out the debt and take them through arbitration. Either way it would keep the share count where it is or at least under 500,000.
Either way I'm here to the bitter end!
