NP/wire say Crystallex still in the dark in Venezuela
Crystallex International Corp (C:KRY)
Shares Issued 294,817,719
Last Close 11/6/2008 $0.33
Friday November 07 2008 - In the News
Also Rusoro Mining Ltd (C:RML) In the News
The National Post reports in its Friday, Nov. 7, edition the uncertainty continued Thursday in Venezuela for Crystallex International, one day after news reports suggested the government plans to "take over" the company's Las Cristinas gold project. A Bloomberg News dispatch to the Post reports that a new report says Venezuela wants to develop Las Cristinas jointly with Rusoro Mining, and thus replace Crystallex. Later in the day Thursday, that story was allegedly denied by the mining minister. Crystallex and Rusoro both said they knew nothing about the reports. Doug Belanger, president of Gold Reserve, said in an interview that Venezuelan officials recently did an inventory of Las Cristinas, which is a possible precursor to taking over the project. "They asked to stay at our property next to Las Cristinas, because I guess they felt more comfortable with us," he said. He added that Crystallex has a clause in its mining contract in which it gave up the right to international arbitration over Las Cristinas.
© 2008 Canjex Publishing Ltd.
