Re: news out of Vz --RM comments
posted on
Aug 31, 2011 10:19AM
Hello Richard and Andrea,
Found this article (sent Teut's find to RM) today detailing plans for the Las Cristinas project. Could Crystallex be one of the 'private' companies referred to in the article? Are you aware of any settlement talks or negotiations between Crystallex and Venezuela? -------------------------------------------------------------------------------------------------
Hello Mr. "beandog" ----- We have seen the article and for many years have seen speculation and conjecture by various Venezuelan Officials and the media.-----
I am not aware of any discussions ongoing between Crystallex and the Venezuelan Government regarding the development of Las Cristinas. Crystallex has filed a US$3.8 billion claim through ICSID. Venezuela has retained counsel (Arnold & Porter out of Washington, D.C.) for the Crystallex case and they have already appointed an Arbitrator for the ICSID panel. The Company expects the third and final ICSID Tribunal panelist to be named shortly at which time the procedures and timelines will be set and the case begin.
Rgds,
R ____________________________________________________________________________
Note: RM did not respond to my "settlement" question. __________________________________________________
Also, as previously posted from an 11-Aug-2011 email, when asked: Is Crystallex still in contact with CRRC? Is CRRC trying to work with Ven to reinstate our MOC or will they help finance Crystallex's survival as a company throughout the arbitration case? Or...Is CRRC totally out of the picture? ----------- RM responded as follows: Crystallex maintains communication with CREC/CRRC and they advise that they are in a dialogue with Venezuela and have expressed their continued desire to develop Las is Cristinas.