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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: Bond Indenture Agreement (BIA)

Bond Indenture Agreement (BIA)

posted on May 23, 2009 08:42PM

I just wanted to share some language from the BIA.

LACK OF OWNERSHIP RIGHTS

"Under the Agreement and in accordance with the Venezuelan mining law, ownership of the L. C. Deposits belongs to the Republic of Venezuela. The Agreement does not transfer any property ownership rights to the Corporation and the interests of the Corp. in the L.C. Deposit are contingent upon the Corp. continuing to meet its on going obligations under the Agreement. In the event that a breach of the Agreement occurred and was not cured by the Corp., the breach could result in the CVG having the right to terminate the Agreement."

In light of the recent document from the CVG stating that we are currently in good standing with the MOC, the above pargraph is a positive for KRY.



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