Thanks goldman good find. the newsletter is amazing for its candor. From my initial review of the letter, and reading between the lines, it appears that the Bolivia oil and gas division was run by an attorney, an accountant, a general manager, and a consulting firm that were guilty of malfeasance. They were fired by the company in December and the company is looking to legal avenues to address the screwup.The oft delayed startup of pulacayo was caused by the failure of the Peruvian plant contractors inability to procure a perfomance bond. It seems the company will now contract out the tailings and the review by the mining company in approx 10 days hopefully will result in a contract for the placement of a flotation plant at the site.The gtl plant in bolivia, always a overly ambitious project appears just about dead and considering the cost and the political climate, that is probably ok. The Argentinian gtl plant seems to still be viable. My hope is that the Zurich investors will be on board if the feasibility study shows it is doable.By now many thinking posters here may realize that you can't run a mining business by merely sticking a shovel in the ground. Safety, efficiency and environmenal issues are paramount and banks and investors want to make sure they are not being bamboozled.This certainly was no fluff pr by the company.I continue to believe these are good guys who are trying theitr dardest to make this a profitable company. From the onset, the prize here has been Cerro Rico. It still is the hope for a major increase in value if they can get it done.Good luck to all.I rate this company as a hold now but if I see a up move on some volume it would indicate that financing is in place and I would be a buyer. This month may be very important turning point.
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