Company Analysis:

July 24, Crystallex International said the Chavez Government has urged the minister to reconsider the decision of banning the company's mining operations at the Las Cristinas mine, if Crystallex agreed to discuss certain modifications including: 1) Further optimizing the social projects in the area, 2) Mitigating the impact of open vein deposit mining in the currently affected areas of the Imacata and 3) Improving the remediation plans at the end of mine life as well as to remediate the existing environmental damage caused by the illegal miners who have worked in the area.

Analyst Opinion:

It looks like the government is supportive for Crystallex. The uncertainty remains as for when the mining can really restart, but we are seeing more and more hopes. As the country's largest gold deposit, the Las Cristinas project represents an excellent growth opportunity if brought back to live. We are maintaining our neutral opinion pending additional clarity on this issue.

Analyst Opinion Completed By : Lili Zhang (11th of August 2008)