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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: Just spoke with RM

I will paraphrase the conversation by saying that everything remains on track and all parties are diligently working on closing the transaction.

While everone is on the same page, things are taking a little longer due to the unique nature of the transaction, i.e. the involvement of the government of China, the multiple jurisdictions (Canada, China, Venezuela, and another for the home of the JV -- don't ask where, I didn't and I don't think that is for public discussion yet), and the sheer volume of writen materials.

Personally, I remain very upbeat and put in two orders for another 150k shares @ .40, 50k filled right away but the larger order is slowly filling in little partials.

One point where I had been confused was also cleared up, we are not currently awaiting a reserve update that is 43-101 compliant, so it cannot be publicly released. The work referred to in the Preliminary Agreement was for use in the JV deal. I would expect that Crystallex will probably do additional drilling in the future and update reserves when a compliant study is available.

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Aug 12, 2010 06:42PM
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