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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: Access to Capital essential to develop Gold projects...

Access to Capital essential to develop Gold projects...

posted on Jan 26, 2009 03:52PM

and I would believe that Venezuela would need to align themselves with someone who can get it! If Venezeula is like Russia then they need to work with a company who can raise the required capital to build the mine. The question is can those companies working with VZ make the grade to get the funds?

I found it interesting that Kinross and Polyus have agreed to "co-orporate", to develop the Nezhdaninskoye deposit in Yakutia, a republic in the northwest of Russia, I think not by choice, but by need. Made me think of Venezeula and that they too must have the same need if they want to develop Las Cristina.

"Kinross cozies up to Russia's top gold miner

"Polyus and Kinross seem keen to work together over the long term. Polyus values Kinross's technical expertise, development skills and relatively easy access to the capital markets, which are all but shut to Russian firms as the financial crisis sweeps through the country. Toronto-listed Kinross raised $360.5-million last week through the sale of 20.9 million shares at $17.25."

Link: http://globeinvestor.com/servlet/sto...

By the way, I was courious whether or not Kinross had any interest in Venezuela, not for the Russian interest above, but more to their involvement in Ecuator, so I sent an email to Lisa Doddridge: Director, Investor Relations at Kinross enquiring above same. In short, Venezuela is not a focus for Kinross.

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