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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: RM on recent hires

RM on recent hires

posted on Mar 05, 2008 08:02AM
I have been attending a mining conference this week with little time to review and respond to emails. Crystallex has no clear expectation on timing of the issuance of the permit but continues to be advised by officials that we are in good standing and it will be issued. Under the contract to mine las cristinas once the permit is issued the Company will be required to transition into the construction phase in a timely manner. With the recent commodity boom skilled managers for large mining projects are in high demand and the Company did not want to be in a position where the permit is issued and then could not smoothly advance the project due to low working capital or holes in the management team that needed to be filled. Finding staff in this commodity cycle can be a lengthy and competitive process. We are better position for the next phase. Our recent additions to the team and improvement in working capital should position the Company to transition and mobilize into construction according to the contract. Regards, Richard Marshall
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