Joint Venture?

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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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GoldNuggets

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Joint Venture?

posted on May 11, 2008 09:15AM

I’ve been following this board for sometime and I appreciate all the info I get here. I’ve been doing a lot of homework lately with being down since Feb this year with 10,000 shares with cost averaging down from $2.40 until the $1.60 range the day before the bad news struck. I thought I contribute this that I came across today. I would like to get feedback of what is the option of this board is if there would be a joint venture with Crystallex and the Venezuela govt. How would this impact the value of shares of Crystallex if this came about?

I translated the below info.....

With an eye on mine / Veneconomy 09May08
Date Saturday, May 10 at 11:22:14
Topic Analysis and Opinion

With an eye on the minasPor Veneconomy

Last week the government expropriated the Siderurgica del Orinoco (Sidor). Now the undertaking against the mining sector. Although the harassment comes from this sector several years ago, this April 15 the minister of Basic Industries and Mining (MIB), Rodolfo Sanz, again threw caution that all mining concessions were "under review" by precise orders of first agent. Even informed that they are preparing a Mining Act which aims to recover deposits that remain idle, and that would revise existing agreements which are kept with companies that manage the sector, particularly the extraction of gold, coal and diamonds.

One strategy that would be applying for mining companies is through workers' groups allied to the Government, who under the pretence of fighting for labor claims are close to businesses. By this means the Government endorsed about three years ago companies such as Venepal and the National Company of valves (CNV), today turned into scrap metal without revolutionary cogestionadas production. The same procedure was also used recently to expropriate to Sidor.
Now, already activated the spearhead of workers from El Callao Gold Mining, a subsidiary of the U.S. Hecla Mining. These workers remain locked since two weeks ago access to Isidora gold mine. And while the MIB denies its involvement in this shot, a judicial inspection conducted at the site on April 25 noted that the work in Isidora are paralysed by a group of workers who said acting "under orders from the Minister for MIB" and "Inspectorate Guasipati."
Even in what could be more than a coincidence, the Russian company Rusoro Mining Ltd., which controls one of the largest gold mines in the country, is also accused of being run over by workers mining groups in the area.
Equally important is that last week the government arbitrarily denied to mine Las Cristinas and Las Brisas Cristallex of Gold Reserve, Canadian environmental permits. Here it seems that the Government is doing the dirty work directly, according to analysts with a view to expropriation or forced to migrate to joint ventures. What this shameless excuse is that Las Cristinas and Las Brisas not only fully comply with all environmental protection legislation, but also have developed and implemented programmes for small miners, in order to give them their own space and to orient them to meet also with all environmental regulations.
The corollary of this is that sadly the only revolution that will bring this "mineral policy" will be more anarchy in the sector, less control, increased pollution and destruction of the environment. To which he added was also higher unemployment and smuggling of extraction.