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: Vheadline Article-email sent to RM

Richard responded to my request tonight on this question. Here is the question and response. Appears not to be a concern or issue so I will not get to excited about it. Stay postive folks. I realize that it is easy to get excited about KRY given all the recent events, but stay level. I quickly looked on Infinito's site for a NR but I did not see anything. (it was a quick search only so I appoligize if I missed it)

Good night.

-----Original Message-----
From: Richard Marshall [mailto:the-technician@msn.com]
Sent:
Monday, August 25, 2008 7:11 PM
To: 'XXXX'
Subject: RE: Infinito Gold Ltd

We are not a party to the proceedings and to date it's had no impact on any discussions, plans or expectations. We do expect any change to that and remain optimistic the Project will be permitted and moved into the construction phase.

regards,

Richard

------------------------------------...

Richard Marshall

VP Investor Relations

Crystallex International Corporation

Tel: 800-738-1577

Email: rmarshall@crystallex.com

------------------------------------...

This message and any attachments (the "message") is intended solely for the addressees. If you receive this message in error, please delete it and immediately notify the sender. Any use not in accord with its purpose, any dissemination or disclosure, either whole or partial, is prohibited except by formal approval. The internet can not guarantee the integrity of this message. Crystallex International Corporation (and its subsidiaries) shall (will) not therefore be liable for the message if modified. Please note that any views or opinions presented in this E-mail are solely those of the author and do not necessarily represent those of the Company. Finally, the recipient should check this E-mail and any attachments for the presence of digital viruses. The Company accepts no liability for any damages caused by any virus transmitted by this E-mail.

From: XXXX [mailto:XXXX@telusplanet.net]
Sent:
Monday, August 25, 2008 8:37 PM
To: 'Richard Marshall'
Subject: Infinito Gold Ltd

Hi Richard,

Looking ahead for any reasons for potential delays for issuance of our permit can you comment on whether or not Infinito Gold has any legal or justifiable argument to any rights or otherwise to Las Cristinas? Does this arbitration affect or concern KRY in any way, shape or form?

Thanks

XXXX

Source: http://vheadlinevenezuelanews.blogsp...

Details:

Infinito will advance arbitration process on Las Cristinas

Infinito Gold Ltd is pleased to announce that the International Center for the Settlement of Investment Disputes ("ICSID") has issued a Decision on Jurisdiction in the matter of the arbitration between the Company and the Bolivarian Republic of Venezuela dated August 22, 2008. The Decision concludes the process commenced in July of 2006 when Venezuela raised objections to the Arbitral Tribunal's jurisdiction to rule on the Las Cristinas case pursuant to the Agreement Between the Government of Canada and the Government of the Republic of Venezuela for the Promotion and Protection of Investments. Venezuela raised four objections pertaining to the jurisdiction of the Arbitral Tribunal and the Decision states that three of these objections are dismissed and one will be joined to the merits of the case. The Company maintains, among other things, that its rights to mine Las Cristinas were expropriated in a discriminatory manner and without prompt, adequate and effective compensation by Venezuela after an investment of approximately US$185 million for the exploration and development of the properties that led to a determination of reserves in excess of 12 million ounces of gold and over 1 billion pounds of copper. The Company is requesting restitution of its contractual rights to mine the property plus damages or, in lieu of restitution, monetary damages of approximately US$ 1.1 billion representing costs and lost profits. The Arbitral Tribunal has indicated that, after consultation with the parties involved, it will issue an Order for the further procedure which will mean a re-commencement of the arbitration merits process that was suspended in July of 2006 when the jurisdictional issue was raised by Venezuela. While the company is confident in the validity of its position, there can be no assurance that it will be successful in all, or part, of its claims and any award granted will be shared with other parties according to pre-existing contractual agreements.

Share
New Message
Please login to post a reply