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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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Message: Taking over Rice.

Re: Taking over Rice.

posted on Feb 28, 2009 05:35PM

Joe, you have it right. KRY is already set up for the socialist regime IMO that is why KRY "chose" this route. KRY had a choice and they could see the righting on the wall. If you ask me this was the smart route.



Everyone has to remember KRY doesn't own anything they are the contractor. Big difference from the companies they want to expropriate. All of these companies own something KRY does not. KRY has a contract in which they take proceeds from the gold and also pay taxes and royalties for doing this but they own nothing The CVG needs this money bad. There is nothing for Chavez to take unless he wants to increase taxes and royalties.



KRY is actually a good thing right now with the articles and discussions about the CVG needing money to survive. Sanz has mentioned many times now that LC is worth $35 Billion to them. At this point in time do we think that Chavez would throw that kind of money away? Arbitration would virtually lock up that income for the gov't.

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