Welcome to the Crystallex HUB on AGORACOM

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

Free
Message: Re: Background on the missing 15 million

This is RM's response and clarification.

Crystallex International clarifies its position on the "missing" CVG $15 million...

Following yesterday's publication of our VHeadline.com newsfile CVG/Mibam chief executive Jose Kahn to investigate Crystallex US$20 million (in translation from Monday's issue of Correo del Coroni) we are happy to relay the following clarification from Crystallex International's vice president (investor relations) A. Richard Marshall:

For the record, in September of 2002 Crystallex paid the CVG US$15 million for the use of all the data, buildings and improvements on Las Cristinas per the Mine Operating Agreement.

Based on the article it sounds like there was a complaint aimed at the CVG questioning what the CVG did for the communities with the $15 million they received in 2002 ... earmarked to go to water treatment projects in Bolivar State.

The $15 million payment was reported by Crystallex in our 2002 financials.

Crystallex remains in the final administrative phase of permitting in MARN and believes it will see news sooner rather than later.

Richard Marshall
VP Investor Relations
Crystallex International Corporation
Tel: 800-738-1577
Email:
rmarshall@crystallex.com

Share
New Message
Please login to post a reply