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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Re: BNA Story
6
Feb 10, 2008 05:51AM

Re: BNA Story

in response to by
posted on Feb 10, 2008 07:25AM

"greatly delayed for no justifiable reason," "and the national assembly is dealing with other issues."

The above quotes are from Camiven president Gilberto Sánchez from the BNA article: Camiven: Unjustified permitting delays persist - Venezuela. Can anyone offer any information on his involvement with KRY or the area? And does he have any influence to pressure officals to move the permit process along? I read from the article that it is not just investors and companies that are frustrated with the permit process and delays, but it looks to me also to include the Camiven.

All along KRY have said they do not know what the reasons for the dalay in the permit (which does seem to support the above article) and all the while the MIBAM, the CVG, reps from the NA are trying to pressure the Minister at MinAmb to focus on the file and follow through with the MinAmb commitment to issue the permit. Crystallex continue to state they fully expect to receive the permit and build the mine at Las Cristinas. As it sits currently we continue to hear the Las Cristinas EIA has been accepted and approved and the requested bond and tax payments by MinAmb have been fulfilled. And all requirements for the issuance of the permit have been fulfilled by the CVG and Crystallex.

There are many that can recite the above paragraph word by word. There are many that are very frustrated (including me) by the length of time since meeting all the MinAmb's requested requirements and still no permit. There are many who are frustrated by the lack of any updated news, visibility of KRY management, speed of response from the VZ officals etc. etc. etc. Believe me when I ask how much longer can this go on and I do not like my own response. However, I have to remind myself why do I continue to hold when I should have sold long ago investing in a very risky politically unstable region of the world; the answer is 20M oz of gold with gold at record levels. At some point and hopefully soon the MinAmb will pick up a KRY file and stamp approved; how much longer can it take? In the mean time we look for any news event like the BNA article that makes us continue to believe (or not) while we wait. Our day will come and the question is will the members of this board be the same or different? Still believing the permit will come.


Feb 11, 2008 11:35AM
1
Feb 11, 2008 11:50AM

Feb 11, 2008 01:15PM
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