Of course the VZ papers get the PR all wrong!

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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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no_bear

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Of course the VZ papers get the PR all wrong!

posted on Nov 29, 2008 08:00AM

From El Universal this morning:

Canada and Venezuela discuss possible nationalization of mine "Las Cristinas"

08:08 AM Canada .- The Canadian company Crystallex reported today that its shareholders is talking with Venezuelan authorities on the status of the gold mine "Las Cristinas", which wants to regain control the country from 2009.

On Nov. 5, the minister of Mines, Rodolfo Sanz, announced Caracas from 2009 to assume control of Las Cristinas, "one of the largest mines in Latin America and the exploitation of which was granted in 2002 to Crystallex.

A day later, Crystallex requested "formal clarification" about the situation of the mine and said that the Venezuelan authorities not reported any change in ownership of the farm, Efe reported.

Crystallex said today delivered a letter to the Government of Venezuela and that his intention is to resolve the dispute "in an amicable manner within six months."

If the conflict is not resolved "by amicable six months, Crystallex has the option of referring the dispute to international arbitration," the company said in its submission to shareholders.