If Chavez is concerned about generating cash from a gold deposit such as LC or any other for that matter, one has to consider his rationale in the oil industry and wonder if it's safe to transfer that to any mining show there. His comment "take a chunk of cash" and the big earnings comment, and the JV options are food for thought.
From a previous post:
President Chavez said his government will create several state companies to replace oil service contractors now doing business in Venezuela. Chavez said oil contractors often "take a chunk of cash" for their work and, he asked, "Who keeps the big earnings?" (3/23, #9)
Venezuela’s PdVSA is offering oil service companies joint venture deals as a way of capitalizing billions of dollars in unpaid service bills. PdVSA is facing a cash crunch since prices for Venezuelan oil plummeted last year. As a result PdVSA has stopped paying for services at the well since August. (3/27, #9)
