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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: Another racket next to Tin Leaf Burst”...interesti... article "gold rush"

"the price of gold in the popular purchases and it said that in the Pebble they pay the gram to 135 bolivars and in Tumeremo to 130."

Obviously they are paying for gold at the black market rate for bolivars not the official government rate of 2.15 to the US dollar.

One ounce = 31.1 grams so the price is 4.000 to 4,200 bolivars per ounce. At the official rate of 2.15 bolivars to the US dollar that would mean they were paid between $1,860 to $1,950 an ounce. At the black market rate of 6 bolivars to the dollar the numbers are $666 to $700 an ounce a more realistic figure. It also demonstrates just how out of reality the government rate is.

It also indicates to me that none of this gold is going through government channels so it is probably all going into the underground economy.



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