First, I should have seen this coming back when GRZ filed for ISCID arbitration and soon after the CREC/KRY JV investment but I failed to recognize the games Hugos attorneys are playing.
Why? When GRZ filed and we took the intiative to move the LC project forward giving up 2/3'rds of LC for 1/3rd ownership it appeared on the surface this could have or may have swayed Hugo to budge seeing his partner for other infrastructure projects I.E rails and roads ect ect were already in motion. Not! In fact , after looking in the rear view mirror the key to the LC project after GRZ filed was to never allow KRY to move this forward. It would have made Hugos case even stronger in court if he allowed one to mine and not the other. Essentially and as I see it GRZ has or will be offered a $ amount very soon IMO ( I don't want to speculate but look who's inside the stock....same ol'e guys" ) then soon after I suspect our equity will move in lieu of an offer soon after...again I don't want to speculate on the price.
So in essence the denial of our MOC had to happen to deal with GRZ first, then KRY after they made a settlement they could all agree with and to give Hugo the leveradge to negotiate a settlement before it gets to the courts. Some say Berlanger may not accept it , but I think the larger shareholders will take whatever they can scavenge out of the deal and we will too.
On the other hand , KRY could be offered a settlement first and we may accept it . GRZ sees this and takes the bait and entertains a low offer and moves on...It could go either way....The games I believe are being played are worse than dealing with the devil himself. I believe our fate is tied GRZ's offers already made....
Sure makes me think about why I ever believed we could have or would have been successfull with the new partner. I should have known better.
