Venezuela will deal...
in response to
by
posted on
May 15, 2009 07:53AM
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
The notice to file for international arbitration has brought things to a boil... Venezuela is dealing with the matter and dialogue between the Company and government officials is progressing well, contrary to what other Companies may report/experience.
The noteholders are allowing time for this to be resolved to the satisfaction of all parties at this juncture, because resolution is tangible. Venezuela will issue the permit. Nothing else makes sense. It is a much better move to allow Crystallex to develop this mine versus the risk of a multi-billion dollar payout in arbitration. It will happen.