Runslow,

No Bear would be much better equipped to comment on the ramifications of filing for arbitration and it's effect on our contract, as it stands. The liquidation of the machinery would probably only take place if we are out of options. That mining equipment is what makes Las Cristinas much more valuable than other similar projects. Start-up is much shorter and the production of gold would only be a couple of years off, which is a major consideration when you've just had an expenditure of over 2 or 3 billion dollars, for the contract.

Yes, there is no question in my mind that Venezuela wants an amicable settlement, especially because they don't have a case for breaking the contract and they are heavily exposed with 12 billion in assets in North America. Between a rock and a hardplace, I'd say.

I really feel we have excellent leverage to make a good deal for our contract if we recognize what a valuable asset we have and negotiate from a superior position and not a weak one.

EZ