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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: Current Summary

Current Summary

posted on Aug 07, 2008 06:38AM

It is easy to get diverted with the daily deluge of translated information that comes out of VN.

Simply put we know that the LC project is in full compliance with the existing law and Crystallex has met all terms of their contract with the goverment. A "new" mining law is not required for the LC project to be fully approved. Simply the final env. permit is all that is required.

We know that the final permit (env) was denied April 30th. We know on June 18th a request from the "government" to the Environment Ministry to reassess what would be necessary to issue the env. permit. We know that Ms. Ortega was not assigned to participate in the reassessment. We know the vice minister is the lead in the formal process. In addition, we know that the vice minister has been taking a more active role overall in executing the responsibilities of Minamb.

We know that the LC project has support from:

1. MIBAM

2. CVG

3. Local (mayor) State (gov)

4. At least some of the National Assembly

5. Local citizens, unions etc.

Bottom line: Crystallex needs only to be able to have the "formal" meeting with the vice minister to review staff's responses to the 3 requested areas of additions/changes requested by Minamb. Of course, additional steps may need to be taken but much if not all may be approved in the formal setting initiating the approval of the permit by Minamb. (This meeting may have already taken place, don't know)

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