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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: Current Summary

Re: Current Summary..updated opinion

in response to by
posted on Aug 20, 2008 05:47PM

It is easy to get diverted with the daily deluge of translated information that comes out of VN and board distractions.

Simply put we know that the LC project is in full compliance with the existing law and Crystallex has met all terms of their contract with the goverment. A "new" mining law is not required for the LC project to be fully approved but, nonetheless appears to be "at the ready" if the Vens want to put one in effect. Simply the final env. permit is all that is required.

We know that the final permit (env) was denied April 30th. We know on June 18th a request from the "government" to the Environment Ministry to reassess what would be necessary to issue the env. permit. We know that the "acting" minister took the time to do a site visit. We know that Crystallex has formally responded to the 3 "enhancement categories" requested by the government.

We know that the LC project has support from:

1. MIBAM

2. CVG

3. Local (mayor) State (gov)

4. At least some of the National Assembly

5. Local citizens, unions etc.

Old Bottom line: Crystallex needs only to be able to have the "formal" meeting with the vice minister to review staff's responses to the 3 requested areas of additions/changes requested by Minamb. Of course, additional steps may need to be taken but much if not all may be approved in the formal setting initiating the approval of the permit by Minamb. (This meeting may have already taken place, don't know)

New Bottom Line: Crystallex is waiting for a definative response from the "government". Meetings should be over involving Crystallex. My estimate is that the Vens have all the info needed and we are talking only day(s).

Not knowing when is fantastic (in a way). Fencesitters will be left out in the cold and partial boats will be displeased that they did not believe fully.

One last thought, hopefully infojoe is doing well and has anyone wondered what he meant by "third side of the coin"?

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