Now the revised claim approximates $2.1 billion.

"Venezuela is scheduled to file its Rejoinder by November 14, 2011. At that point the written phase of the arbitration will be complete and the final hearing on the merits and jurisdictional issues is scheduled for a 10-day hearing to commence on February 6,
2012, in Washington, D.C."

So now we await Vz's reply.

"However, we always remain ready to evaluate and possibly enter an amicable settlement that would compensate Gold Reserve for its losses in addition to possibly retaining an interest in the project in exchange for the transfer of the extensive technical information that will allow the project to proceed on a fast-track basis rather than to take years to duplicate."

Now that is interesting. I presume that is just polite parlay that we are willing to discuss all possibilities and do not wish to be an impediment to a speedy development of the mine. But I expect that a renewed ownership is out of the question as long as Chavez is in power. Yes I would say go back to previous status provided we are compensated for all the troubles and delay caused by this grab and a different government is at the helm in Venezuela.

I expect that we are not serious about being a minor owner or operator of the mine as part of compensation for the data, loss of property and profits.
With Chavez in power, cash settlement is the only acceptable compensation.