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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: I went to the Hard Asset Conference

Back to the NA meeting minutes

posted on Nov 30, 2008 04:38PM

I posted the minutes a couple of days ago and mentioned this paragrah specificaly"

Following, Attorney Norelys Lucena González had the right to speak, who identified herself as "the Legal Counselor for the Ministry of Basic Industries and Mining, the Ministry that exerts tutelage over the CVG", and declared the following: "What has been declared by the representatives of Crystallex is true…lets be reminded that the concession was granted by the Venezuelan State to the CVG and in turn, the CVG signed an operation agreement with Crystallex for the exploitation of this project. They have complied with a series of steps, of proceedings set forth in the Law to obtain different permits, until the certificate of natural resources issued by the Ministry of Environment was denied, this is a situation that escapes the MIBAM, an it is a competence, in this case, exclusive of the Ministry of Environment. I imagine that they will exercise their rights, their actions. On our part, we must await the exhaustion of the deadlines and of the administrative and judicial processes on the part of the company to take any decision".

The letter on Friday is all part of the plan and I have to wonder if Sanz and Fung both knew Kry would have to go this route to force Ortega hand. Sanz comments about the Russians might even been part of the plan knowing this would allow for clarification from Mibam.

Yeah I know more conspiricy theories. I'm really happy this wasn't a blind side and Sanz knew it was coming or even had a hand in orchestrating it.

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