zwil, with regard to the noteholders...i agree that you never know what a judge will do...i dont think he will side with the noteholders, but you just never know..

with regard to arbitration.....as far as kry is concerned ortega did rescind the decision about mining in the imataca.......there is really no "environmental" decision keeping kry from mining LC that does'nt amount to defacto nationalization....

at this point, ortega just has'nt issued the permit.....she also has'nt given a reason why she has'nt issued the permit.....

if we were able to finance an arbitration i have faith the story (as it sits now) would end up in a favorable decision for kry....i'm just not real convinced we'd be entitled to lost profits...which takes a lot of the appeal out of arbitration...

i'm sure the noteholders only concern is that they recover as much of their money as possible...so if they see a possible solution that gets them paid they will take it....

like i said, i think we'll see a favorable decision...but.....if the judgement forces us to file for arbitration, then we will still need a deal to finance arbitration. if the judgement forces us to repay the noteholders, then what, we hand over the MOC and whatever cash we have to the noteholders??? i will feel better when this hurdle has passed...