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

Free
Message: Helca mine is in the hands of the Russians
As has been pointed out in the past...this mine was at the end of it's useful life...not very profitable for Hecla. Venezuelan operations only represents a tiny fraction (about 3%) of Hecla's income. That fact, combined with the fact that they now don't have to worry about the remediation costs associated with closing this mine, could be a win-win from Hecla's point of view. The fact that the allegations of 3 workers (who very well may have been routinely jamming gold nuggets up their asses and robbing the mine blind) could result in Hecla getting the boot is curious to say the least. The CVG is not stupid. Why would they want to take over an unprofitable mine only to end up as the one in the hot seat? These disgruntled workers will expect their salaries to triple overnight...no more sore backs and probably whiter teeth and fresher breath as well. Unfortunately, the economics of the mine have not changed. These workers will likely end up more pissed off than ever after a few months under the Russians unless, of course, the Russians took on this white elephant of a mine for future favors and considerations from the Venezuelans.
Share
New Message
Please login to post a reply