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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: Re: Chinese buy Canadian copper/gold project in Ecuador

Posted this PR yesterday, no one seem to care, think it could relate to KRY since its mine is based in Ecuador and has had some of the same geo-political issues as Crystallex, suspension of mining along with Aurelian Resources (brought out by Kinross Gold) other issues includes local protests along with Intl. NGO, revised mining law, in the end all worked out well in this high risk country where the government are amongst the strongest supporters of Chavez and his direction, of note, Corriente share price dropped to $1.55 in 2005 and today fetch C$8.60 per share in a buyout, Aurelian went from C$0.50 to $40.00 after it's exploration success in Ecuador (10 mil plus Gold oz) after a 4 for 1 stock split, stock drop on the same news only to be taken over by Kinross Gold, the Chinese took 13 months to decide on this buyout, Aluminium Corp of China (Chinalco), also brought out Canadian miner Peru Copper for its Toromocho copper mine in Peru a couple years ago, patience grasshoppers......

"The Vancouver-based miner, which mainly focuses on its Mirador copper property in Ecuador, said its shareholders will receive C$8.60 a share, a 27% premium to the average price over the previous 30 trading days up to and including Dec. 24. The deal must meet the approval of government regulators in Canada and China.

Desjardins Securities adjusted its recommendation on Corriente to tender from a sell-speculative rating following news of the deal. It also changed its price target to C$8.60.

"In our view, the potential for a bidding war for Corriente is minimal," wrote Desjardins analyst John Hughes in a Tuesday note to clients.

"Corriente has been operating under an exclusive contract with the Chinese to sell the company for 13 months, and political and social challenges" associated with the more than $1 billion Mirador project "would exclude many large mining companies from 'battling' the Chinese for the project," he wrote"

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