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: Coming within sight of a legal El Dorado

Based on what I have read: (From memory) Infinito is going after either the right to mine LC or serious compensation, including compensation for lost profits, instead. However, it's my understanding that VZ was within its rights to take back the concession from Placer Dome since PD did not fulfill its obligation to develop the site. VZ had actually given them an extra year allready to live up to their part of the deal and they still hadn't proceeded. There was some kind of financial thing between Infinito and PD with Infinito(Vanessa) owing PD something aside from the $50.00 they paid. There might be a case for Infinito getting some or all of what was invested if the value of that investment (site work or whatever) ended up with CVG or KRY.

The deal with Vanessa was somekind of last ditch attempt by PD to sidestep the taking back of the concession. Sounded very artificial.

Unless that version is incorrect, it's hard to believe that Infinito could get more than some or all of what was invested. But strange things can happen and it's possible there's more to the story.

Share
New Message
Please login to post a reply