This canaccord morning coffee briefing does not mention anything about the departure of GT suggesting that either his resignation was annouce after breifing deadline or that that it was not what is making the news. The MC focuses on yesterdays bloomberg article (see below), which was reported on our forum, and one begins to wonder if it may be partly to blame for some of the negative erosion is todays SP. I am sure a CEO resignation is also partly to blame, but I find it interesting in what Canaccord find to focus on. Also anyone care to comment on the last sentence?

Crystallex International (KRY : TSX : $0.81), Net Change: -0.03, % Change: -3.57%, Volume: 310,597

Gold Reserve (GRZ : TSX : $1.98), Net Change: 0.04, % Change: 2.06%, Volume: 5,292

Lost in translation? Though the stock market didn’t seem to take notice, Bloomberg ran a short article titled, “Venezuela May make All Gold Mining State-Owned,” citing Venezuela’s national newspaper El Nacional. The Venezuelan article cites an unidentified official in the Environment Ministry. According to the Bloomberg report, “Operations or plans of private gold miners Crystallex International, Gold Reserve and Hecla Mining (HL) all have been threatened by government actions, the newspaper said.” Yes, it’s true, they have been. The question is, will the government follow through at this time? The Ministry of Environment appears to be talking about not allowing any open-pit mining, citing environmental concerns, while the newspaper report’s source appears to be talking “all extraction of the metal contribute to the country’s reserves.” The latter move makes more sense to us. But we still can’t understand why Venezuela would strip these foreign mining companies of permits before the companies have had the opportunity to spend their expertise and shareholders’ money on building the mine facilities first.