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: RM; everthing rest in MinAmb!

RM; everthing rest in MinAmb!

posted on Nov 03, 2008 03:56AM

Below is an update from Richard Marshall on the status of the permit; basically it appears we are status quo pending receipt of permit and for whatever the reason (nobody knows why it is delayed with the exception of back-log offered) continue to wait. Response below:

From: Richard Marshall [mailto:rmarshall@crystallex.com]
Sent: Monday, November 03, 2008 6:23 AM
To: xxxx
Subject: RE: Concerned Investor

Hello Mr. xxxx, we believe we are at the stage where everything rests in the MinAmb. Mr. Fung continues to inform me that the Company is keeping frequent communication (almost on a daily basis) with all the relevant government agencies at many levels (e.g. the MIBAM, MinAmb, CVG, NA, Administration, Governor’s Office, Embassy etc) and the continued collective guidance is that there’s solid support for the Project and the permit issuance should only be a matter of time. Unfortunately, at the same time there’s been absolutely no clarity or explanation offered by anyone as to what the holdup is, timeline should be or what they’re waiting for and looks like we’re just one of many issues awaiting final attention or action by the Government or Agency.

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 addressee(s). 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 without formal approval. The internet cannot guarantee the integrity of this message. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of the Company. Finally, the recipient should check this email and any attachments for the presence of digital viruses. The Company accepts no liability for any damages caused by any viruses transmitted by this email.

From: xxxx [mailto:xxxx@telusplanet.net]
Sent: Saturday, November 01, 2008 3:03 PM
To: Richard Marshall
Subject: RE: Concerned Investor

Hi Richard,

Have not spoken with you in a while and since early October we have seen just about every stock, strong or otherwise, take a significant hair cut; I see that KRY was not immune to the market forces and also took a significant drop in value since early October.

As I understand it, specific to the permit, there is nothing more for Crystallex to do to secure the permit and that Crystallex continues to wait for same. I also understand that it is difficult to predict a time line for the delivery of the permit and whether the actions of the government are preoccupied with other more important priorities before they can review the KRY file etc. In fact, I am sure you are tired of reading and answering this and other similar emails as we all continue to wait and push for the issuance of the hard to secure permit so we can all get on with business; for that I do apologize in advance.

Please, can you comment on what the reasons for what the delay may be? Can you offer feedback as to what roadblocks or barriers that you or management has learned of why delays are occurring? Is there something that us retail investors can do to help to secure the permit? Is it legal, political or just not on anyone’s radar screens and why? And are these same officials aware of the pressures they are putting on KRY management as they continue to wait for the issuance of the permit. It is difficult to understand that while all the MinAmb actions indicate a permit is coming, then why the reason for such extremely long timing issues around the delivery of a permit.

I assume you continue to believe the permit is coming and your thoughts/musings on same would be appreciated.

Thanks



Share
New Message
Please login to post a reply