The CREC Question...

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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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nzranger

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The CREC Question...

posted on Feb 07, 2011 09:45PM

One thing that hasn't been discussed is the reaction of the CREC...

I don't believe that they are involved in some backroom deal with VN, they have a reputation to protect and they are not going to publicly screw a JV partner.

Assuming the above, CREC would have been blindsided like us, their chance to mine LC stripped away...they must be pissed.

Now I don't think that they would make a big fuss in public view, but I don't think that they will let this go without some reaction...a year of preparation, assurances from VN etc. CREC is an extention of the Chinese government with 51% ownership.

So what will the Chinese do now?

One thing I noticed is CREC wasn't mentioned a lot in the media coverage or the JV. The media reports focused on KRY.