CARACAS (Dow Jones)--Venezuela and Russia have created a joint company to operate the Las Cristinas gold mine, which is thought to possess one of the largest gold reserves in South America, President Hugo Chavez said Tuesday.

Is this Venrus? Does it trade anywhere? I have not seen it.

Chavez reiterated. Venezuela will take over the Las Cristinas gold mine from Canadian mining company Crystallex International Corp. (KRY) in 2009, Chavez reiterated.

This did not happen.

"The Venezuelan state will take control of production of Las Cristinas in 2009," Chavez told the National Assembly during his yearly address, confirming previous announcements months earlier by Mining Minister Rodolfo Sanz.

This did not happen and where is Rodolfo Sanz now, Bermuda?

"The Venezuelan state will take control of production of Las Cristinas in 2009," Chavez told the National Assembly.

This did not happen.

Chavez did not clarify if Rusoro was part of the joint company created with Russia.

Since he did not actually clarify anything it has not become a lie yet.

The president said Venezuela has as its goal almost doubling its gold production in 2009 to 8.2 tons.

This did not happen.

So basicly everything that was reported by Dow Joenes was disinformation that day?