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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: A Huge Contradiction

A Huge Contradiction

posted on May 02, 2008 06:01PM

I was just going over the news release from June 14/07. How can MinAmb justify doing a huge flip-flop at the time many believe we were reaching the finish line? I like this notice from MinAmb much better. Do cats chase dogs in Venezuela? LOL



TORONTO, ONTARIO -- (MARKETWIRE) -- 06/14/07 -- Crystallex International Corporation (TSX: KRY)(AMEX: KRY) reported today it has received notice from the Corporacion Venezolana de Guayana ("CVG"), that the requirements of the Ministry of the Environment and Natural Resources of Venezuela ("MinAmb" formerly referred to as "MARN") for the issuance of the Environmental permit to commence construction of the Las Cristinas Project have been fulfilled.

MinAmb, based on its approval of the Environmental Impact Study ("EIS") for the Las Cristinas gold project, requested the CVG to post a Compliance Guarantee Bond and pay certain taxes for the issuance of the Environmental permit. Crystallex has posted the bond and paid the taxes.

The CVG confirmed that the approval of the EIS, the posting of the bond and the payment of the taxes represent the final and conclusive step in the procedure for the issuance of the Environmental permit to construct the Las Cristinas Project. Crystallex as the builder and operator of Las Cristinas will have use of this permit in order to construct the project on the basis of the approved feasibility study.

In the formal notice that MinAmb sent to the CVG, it was stated that the Environmental permit will be issued following the payment of taxes and posting of the bond. The CVG now awaits the permit required for the construction of the mine from MinAmb.

Mr. Gordon Thompson, Crystallex President and CEO commented, "The request by the Venezuelan Government for the posting of the Compliance Guarantee Bond and taxes further confirms our understanding that we've complied with the very final stage of the procedure for receipt of the environmental permit."



http://www.crystallex.com/News/Press...



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