What's happening in Venezuela?
posted on
Sep 19, 2008 11:26AM
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
After reading many of the informitave posts since the reversal of the Ortega statement, I can only decide that very little of what happens in Venezuela makes any sense at all.
1. The Miners situation: Displaced miners promised retraining in new jobs and money don't get any satisfaction. What's the real difference between us and them? They are screaming about not receiving 4,500 USD. How long would 10000 STRONG BOLIVIARS last us? One week, one month? Illegal hydro mining continues with mercury while nothing is resolved.
2. The impending election: Most of us could never imagine Chavez re-elected based on his record, but he probably will be re-elected neverless. Most of us would agree that under normal circumstances that approving permits would bring tens of thousands of jobs into existance that would help the Venezuelan economy, and obviously vote desperate Chavez must need to do this right away. Yet, Chavez dosen't care! Obviously he has rigged everything to favor himself. He has got rid of all the opposition canidates, got rid of free TV and radio etc. When a coup attempt happens (or is manufactured) the usual subjects are rounded up and the United States is blamed for their training and supply. His countrymen are unable to buy food, get housing etc. that it is the fault of the USA also. I'm sure he will rig the boxes at the voting sites. So, have you have been hoping for a new Venezuelan government to normalize trade, reduce risk, go forward with agreements like ours?????Well?????
3. The Media: Seems to be controlled or played. The recent Vheadline/Roy Carson prediction, enough said.
4. The Investors: What I have learned there are many KRY investors out there with a high basis share price (like me @$3.02) and are willing to hold at this point (like me) and are getting very frustrated (like me). But- The end of the tax year for loss reporting is approaching again (and) I am now debating whether to take the loss this time.
5. The new mining law: Does it effect us? One can only hope this is why we are still waiting.
6.The MinAmb: Hellllooooooo..... anybody there?