With no permit in today's Venezuala....This is even a bigger gamble than doing business in this country...I sold all my stock because this is more like Las Vegas than investing....This is not a suitable investment stock under these circumstances....Dont own unless you can take the loss without losing any sleep....Though if they get the permit....The upside is huge 5-10 times.
Jeff, I agree the Company did not use the word MAJOR. Neither did I in my quote. It was YOU who used that word first.
And regarding the land use permit, you are becoming ridiculous, denying this is a major permit.
As I mentioned, the current engineering and in fact the whole so-called BFS is based in the premise that we can use those parcels, which are not part of the Brisas Concession. If the (hopefully) unlikely event that permit is not forthcoming, it would have a VERY MAJOR impact on GRZ's plans. Why do you think DB specifically mentioned that permit in the 6-K
Why don't you stick to your worthless speculations as to the value of the company. I would call that mental masturbation. And stop putting words in my mouth or try to interprete my opinion to suit your agenda.
To say that GRZ "has no permit" is an over simplification and misleading.
GRZ has many permits, all in good standing, and issued by various government authorities in Venezuela. Some of those permits were issued this year without fuss or fanfare.
There is only one major permit still being processed and that is the environmental permit from MARN. There will always be further minor permits but they are simply administrative steps in the process.
All countries require planning and permits for virtually all clearing, mining and building. Just check the time required to get permits for mining in Canada, US or most other countries. It is not unusual for permiting to take five years or more.
All mining entails risk, and that includes political risk. The political risk of operating in Venezuela has been exagerated by the US press because of the posturing and war of words between Chavez and Bush.
I don't see the US public boycotting Citgo gas stations (owned by Venezuela) or refusing to use Venezuelan gas in their vehicles. Hecla, a US listed company operates mines in Venezuela without political interference. So does Gold Fields a South African company, Crystallex a Canadian compny has operating gold mines in addition to the Las Cristinas contract.
So why should Gold Reserve, another Canadian company be subject to a huge market discount, far greater than any other company with assets in Venezuela? No permit GRZ has applied for has ever been rejected out of hand. Their application to MARN was applied for around 12 months ago, but considering that it takes over 5 years to permit a diamond mine in Canada (a much "cleaner" environmentally mine) why should 1 year in Venezuela cause so much concern.
Jeff, for god's sake speak the truth for once. That only one major permit is needed is just your opinion.
I repeat part of my earlier post ( No reaction from you of course) as follows:
"BTW, have you read GRZ form-6-k, from which I quote: "In addition to the pending land use issues related to the projects infrastructure needs, the Company has a number of permits and and approvals relating to the Brisas Project pending before MIBAM,the Venezuelan Ministry of the Environment and Natural resources (MARN) and other regulatory or government agencies"
That land use permit is pretty Major and God knows what other major permits are still needed. DB is not saying.