Last week when Jim Cramer made his comment that Chavez wouldn't approve the permit for Crystallex, I began to wonder who really signs off on these permits. Honestly, how is it possible that the president of a country, with all their workload and other more important functions, even be involved in the process of signing off on a permit. I am not saying that Chavez is not involved and I am sure he would be aware of Crystallex and for sure the size of the gold project at Las Cristinas along with all the other projects in the area. I asked Richard Marshall who does sign off on the permit and his response, which confirms my thinkings, is as follows:
"Permits of this nature are administered by the Minister. Permits are not issued or signed by the President."
I also remember Gord Thompson saying that the permit has become a politcal event and I wanted to get Richards comments on what Gord meant by that. Was there a connection to Gord's comment and any involvement with President Chavez and the issuance of the permit. This was Richards response:
"We have fulfilled all the requirements and are lobbying government officials that the Minister needs to focus on our project so that we can begin the construction phase. Timing rests in the hands of the Minister and her work load and thus Gordon calls it Political."
Let's hope that that their lobbying efforts are making some headway with the minister and that KRY is finally on her radar screen. For sure patience is certainly required for investors participating in the development of these mining projects.