Agoracom: Small Cap Investment - Crystallex International - Vheadline story Fri PM fron Richard Marshall

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

Reply New Message

Prev Message Back To Forum Threaded View Next Message

zenmaster

Rank: Vice President [?]

Points: 1924 [?]

Votes: 42 Score: 3.0 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Vheadline story Fri PM fron Richard Marshall - no mention of letter sent

posted on Nov 28, 2008 02:56PM

Friday, November 28, 2008

Crystallex reiterates status of contract with Venezuelan Guayana Corporation to mine Las Cristinas gold

VHeadline Venezuela News reports: In an e-mailed statement, Crystallex International Corporation (KRY) vice president A. Richard Marshall on Friday afternoon reiterated the company's position with regard to the status of its contract with the Venezuelan Guayana Corporation (CVG) to mine gold at Las Cristinas in southeastern Bolivar State:

The Las Cristinas is a Venezuela Government Project. In 2002 Crystallex was awarded a Mine Operating Contract to build and operate the Las Cristinas Gold Project on behalf of the State. Crystallex has submitted plans that have been reviewed by the National Assembly, the CVG, the MIBAM and the MinAmb.

In the summer of 2007 the MinAmb approved the Environmental Impact Study and requested a Bond and Environmental Tax payment in order to issue the Environmental Permit allowing for the final construction phase. Crystallex posted the Bond and paid the Taxes and the MinAmb certified receipt of both.

The Company is still awaiting the issuance of the Permit to proceed. Through the advancement of the Project we have observed support in Government Agencies, the Governor's office and local communities.

Crystallex has been recognized in Bolivar State for its social programs and was the recipient of the "outstanding Citizen" award in 2004 for its community programs.

We have built housing in the local communities, paved roads, donated school supplies, built water treatment plants for the local communities, built a sewerage network, upgraded the local medical facility and are in the process of completing a sewerage treatment plant and an 10,000 square foot medical facility for the local communities.

We have purchased mining equipment and fabricated many of the large milling items required for the operating of the Las Cristinas Gold Project and are prepared to build and operate the project as outlined in the Mine Operating Contract.

We hope that the Government will focus on the project and clear the path as outlined in the Contract and follow through with the commitments outlined at the time they requested the Bond and Taxes.

Richard Marshall VP Investor Relations Crystallex International Corporation

2 Recommendations

Reply New Message

Prev Message Back To Forum Threaded View Next Message

Please to post a reply