Dow Jones Turning the Screws....Again

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

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Dow Jones Turning the Screws....Again

posted on Nov 06, 2008 08:05AM

I believe management will have to get public clarification from a named government official confirming or denying this continued, ever changing, storyline.

CARACAS (Dow Jones)--Venezuela's mining minister Roldolfo Sanz confirmed Thursday the government's plan to take over Las Cristinas gold mine, one of the largest in Latin America, operated by Crystallex International Corp. of Canada (KRY.T).

"The plan is to oeprate the mine next year," Sanz said.

Sanz added that the government intended to operate the mine directly.

Asked if Crystallex could expect any kind of compensation from the government, the mining minister said the government isn't considering that at the moment.

At 12:35 p.m. EST, Crystallex was trading on the Toronto Stock Exchange down 1 Candian cent at 37 Canadian cents a share.

-By Darcy Crowe, Dow Jones Newswires; 58-414-249-6821; darcy.crowe@dowjones.com

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