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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: Canaccord Morning Coffee comments on JV agreement.

From Canacord Morning coffee, Tuesday June 8th:

Crystallex has signed a joint venture (JV) agreement with Chin aRailway Engineering Corp. (CRRC) to develop the Las Cristinas gold project in Bolivar State, Venezuela. CRRC is a Chinese state-owned company with the majority of its shares held by the People's Republic of China. It is the world's largest contracting and engineering company and one of the world's 150-largest companies. CRRC and Crystallex have met with the Government of Venezuela to apprise them of this JV. The Venezuelan Government expressed their support. Both Crystallex and CRRC are working closely with Venezuelan officials to obtain the approvals and permits required to bring Las Cristinas into production. The advancement of Las Cristinas will benefit all stakeholders and especially the people of Venezuela, particularly in Bolivar State. Under the terms of the JV, CRRC is leading the efforts of the strategic partnership to unblock the stalled environmental permitting process for Las Cristinas and will provide the necessary project capital to develop the project to commercial production at an optimized mining rate. Crystallex will hold a one-third, fully-carried interest in the Las Cristinas JV and CRRC will have a two-thirds interest. Crystallex will contribute the Las Cristinas Mine Operating Contract, Feasibility Study, all design and engineering already completed by Crystallex, and other project assets. CRRC will provide the necessary construction and operating capital to fund project development, optimized expansion, and operation and will be responsible for construction of the project. Crystallex will pay for its one-third carried interest of the capital costs provided by CRRC from its share of future cash flows from the project. In addition, CRRC will assist Crystallex to retire the outstanding noteholders' obligations, will provide a construction guarantee, and has agreed to make an equity investment in Crystallex.

Don't KRY for me, Venezuela. The truth is I've never left you.

Crystallex International* (KRY : TSX : $0.52), Net Change: -0.03, % Change: -5.45%, Volume: 27,602,888

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