Welcome to the Crystallex HUB on AGORACOM

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

Free
Message: Response From Daniel Cancel (Bloomberg)

Re: Translation

in response to by
posted on Aug 17, 2008 03:58PM

"...Choco 10 and Isidora, the two deposits of El Callao operating PMG, are in the area bounded by Basin Cuyuní, so there's no greater risk arising disqualified when the environmental clearance define the areas of exploitation.

The case of Crystallex is different. The mining company still hopes that the Government clarify whether the sector Sifontes municipality, which expects to run its mining project, will be authorized to exploit the gold ore."

My read on this is that there is no doubt that Rusoro is in the yet to be defined "approved" mining areas since they have already been approved to mine. I'm guessing that although KRY appears to be in the Cuyuni basin, it will not be known definatively whether they are located in an "approved" part of the Cuyuni basin until either 1) the permit is granted or 2) Minamb issues the map of "approved" Cuyuni basin mining areas and Las Cristinas shows up as being in one of the approved Cuyuni basin areas.

PS: Vinvec...on behalf of the board thanks for springing for the subscription.

Share
New Message
Please login to post a reply