Interesting point page 20
posted on
Nov 12, 2010 06:12PM
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
Very interesting section found on page 20. Is this suggesting that a deal with CRRC may have to be completed without the permit to secure funds for next year?
Governmental Approvals Required for the Proposed Transaction with CRRC
Completion of the proposed transaction with CRRC is contingent upon receipt of all necessary governmental approvals, consents and permits, including, without limitation, approval by the appropriate authority within the Government of Venezuela of the assignment of the MOC to a joint venture, as well as the issuance of the Permit.
If the necessary approvals, consents and permits are not obtained, then there is no assurance that the proposed transaction with CRRC will be completed. Due to potential delays in obtaining the Permit, transitional arrangements may be required in order that the proposed transaction with CRRC be completed. There is no assurance that the appropriate authority within the Government of Venezuela will consider these transitional
arrangements effective in order that the proposed transaction with CRRC may be completed prior to requisite permits and approvals being issued