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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: The line has been drawn in the sand.

The line has been drawn in the sand.

posted on May 11, 2008 10:06AM

The line has been drawn in the sand.

The recent Vheadline article points it out so succinctly in as much that corruption in the form of a bribe from a low level government offical to extort money in advance of any permit issuance is alive and well. And it was thought, in my opinion, that because these projects have a low profile on the streets in VZ that these same low level government officals could just get away with the normal practice of corruption, without realizing the bigger picture negative impact on the whole and the potential damage to the country given both projects were essentially green lights. Not it appears that these low level government officals have gotten the attention of not only the global investment community, but the highest level of govenment they were hoping to avoid in the first place as they attempt to extort monies from KRY and GRZ. It also appears that Mr. Sanz was very upset with these low level government officals and has cleaned house; the question is I am not sure if those that were removed are directly involved with the corruption, but why else would Mr. Sanz do it. No matter what happens the damage is already done, but the work of Mr. Sanz with the final contribution from Mr. Chavez will be the first step to repairing such damage and I see given his clean house response is a positive, "I do care" approach to this whole situation.

Next week needs to have a decisive response coming from Mr. Chavez and lets hope he does the right thing and puts both of these green light projects, KRY and GRZ back on the rail which begins with the reversal of the comments from the low level government offical followed with all the applicable permits to proceed.

Enought is enought already....lets get on with this or move on....

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