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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: connecting the dots-No_Bear
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Apr 04, 2010 03:23PM
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Apr 04, 2010 05:48PM
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Apr 05, 2010 01:47PM
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Apr 05, 2010 02:32PM

Yes, the MOC spells out the details (http://www.crystallex.com/Theme/Crystallex/files/uploadedfiles/LC_MineOpAgr_Sep02.pdf).

Basically, KRY has to build the mine and operate it. Venezuela gets a 3% royalty, 3% exploitation tax, and corporate income taxes (at 34% I think). CVG provides no money and gets nothing other than the $15 million we paid years ago.

Recall that the mine is "modular," in that it starts at 20tpd (tons per day) and increments with additions of 20tpd. If VN wants lots of gold fast, we could rachet up production quickly depending on the availability of money (think rich JV partner that wants lots of production).

You should review this document (http://sec.edgar-online.com/crystallex-international-corp/6-k-report-of-foreign-issuer/2007/11/09/Section3.aspx) to understand the details of reserves and production plans.

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