Last 10 days
posted on
Apr 02, 2010 01:33PM
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
Feel free to add if you think of anything else:
First off we had the "supposed" interview of KRY in VZ about the water treatment
plant 3/23. The article sounds as if the final transfer is about to take place.
Then on 3/31 we have this from Sanz "The South American country is seeking partners to develop the Las Cristinas gold deposit, one of the world's biggest undeveloped deposits, Sanz said. Toronto-based Crystallex International Corp., which has a license to mine part of the site, is still being considered as a potential partner, he said.
From the filings:
1. Introduction of Joint Venture moved from D to A.
2. the Company's continuing strong belief in the project, its commercial
prospects and the likelihood of the receipt of the Permit.
3. The Company will consider its options under International Financial Reporting
Standards, when adopted in 2011
4. The Company is in the process of selling the remaining generic mining
equipment
5. Company received a $2,500 convertible loan from a potential strategic
investor.
6. The Company has continued to receive express and implicit confirmation of its
rights and the acceptability of its performance from Venezuelan officials with
whom it interacts. These confirmations have at times been contradicted by public
statements made by senior government officials suggesting that the Company will
either not obtain the Permit or will lose control of Las Cristinas. The Company
has not received any official notification from any government entity concerning
changes to the control of Las Cristinas or to the effectiveness of the MOC.
7. Company has been advised that by remaining in full compliance with the MOC
while it continues to seek a resolution on Las Cristinas the Company will
preserve the option of maximizing stakeholder value through alternative
transactions and partnerships
8. 297M LC write down
9. The Company will continue to pursue the Permit with all appropriate measures,
continues to comply with the obligations of the MOC, and expects to prevail in
due course.