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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: Quarterly

Re: Quarterly..Revemin/T...

in response to by
posted on Nov 13, 2008 12:58PM

As planned. I guess we get a pr when completed. This must have been what the discussions with MIBAM/CVG Minerven were about last week while Sanz was spreading his cheer.

Discontinued operations

- At the end of September 2008, the Company ceased mining at the Tomi and La Victoria mines due to the handover of the Revemin mill to Minerven, a Venezuelan State-owned company, which was effective October 1, 2008. Subsequent to October 1, 2008, the entire mill operating employees at Revemin and some of the mining employees accepted offers of employment with Minerven. The Company paid Minerven compensation for all severance costs relating to those employees who were assumed by Minerven and is in the process of terminating most of the remaining mining employees. The Company is also in discussions with Minerven regarding the return of the Tomi and La Victoria properties to the State and finalizing mine closure obligations.

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