News reports claim Venezuela will withdraw Las Cristinas, Las Brisas gold concessions

More of the political intrigue and gamesmanship, courtesy of the Venezuelan government, are continuing in the Las Cristinas and Las Brisas saga.

Author: Dorothy Kosich
Posted: Thursday , 18 Dec 2008

RENO, NV -

Quoting an unnamed Venezuelan Basic Industries and Mining Ministry (Mibam) official, Business News Americas has reported that the ministry plans to withdraw the Las Cristinas and Las Brisas gold mining concessions.

The official said the government will officially announce the decision at year's end.

The reports suggest that the Venezuelan Government will control and oversee production for a total of 24.5 million ounces of gold reserves currently valued at US$19.6 billion, the official said. The government allegedly is considering utilizing an existing joint venture with Vancouver's Rusoro Mining to mine the properties.

Vheadline Editor Roy Carson quoted former Crystallex Las Cristinas General Manager Guillermo Adrian, now an employee of Rusoro Mining, who said, "There isn't a cat in hell's chance that Crystallex will get the final approval to begin mining."

Adrian told Carson that Crystallex's problems with the Venezuelan government stem from the alleged involvement of the Tejara Paris family in Crystallex's subsidiary.

Venezuela intelligence agencies claim that Enrique Tejera Paris was reportedly involved in a 2002 coup d'état against President Hugo Chavez Frias. Tejera Paris was allegedly to assume the interim presidency of Venezuela if the coup attempt had succeeded.

Rusoro Mining recently announced an all-shares hostile takeover bid of $49.8 million against Las Brisas copper/gold concession holder Gold Reserve of Spokane, Washington. Gold Reserve has responded with legal action seeking an injunction against the takeover bid involving an alleged conflict of interest pertaining to the involvement of Endeavour Financial as an advisor to Rusoro in the takeover bid.

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