Welcome to the Crystallex HUB on AGORACOM

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: What price are we getting for gold

I think it is quite straightforward.

15% of the gold must be offered to Venezuela at the current spot price in US dollars translated into strong Bolivars at the current official exchange rate. Funds that are not needed for local operations, taxes, royalties, etc. can be repatriated to Canada.

85% of the gold can be exported and sold in any fashion and at any place that Crystallex deems appropriate at whatever price they can get in any currency the company chooses.

The caveat is a necessary PR caveat -- that things can change, in VZ or in the United States (think Obama/Clinton letting tax rates increase on investment income, top marginal rates, whatever). In my opinion, as a an attorney, it would be irresponsible for RM to make comments on what they expect and NOT put in such a disclaimer. Read the bottom of any press release from any company.

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