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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: Court Approval of Settlement Agreement Between Crystallex and Venezuela

I do not expect the settlement to be less than the award plus interest.

Best guess is that it is slightly more to compensate for a staged payment i.e. they have factored in some additional interest costs.

Another question to consider would be has KRY agreed to assist in the development of Las Cristinas. I suspect this is unlikely unless there is some data that KRY have which VZ do not have.

This is certainly more significant progress this year than I expected. VZ folded when GRZ got close to seizing assets so there is precedent. I don't think they will be able to keep the agreement secret for very long. As to when shareholders might see something it is still a guess but Gowling, if they are going to do anything, might make some rumblings now.

I think a sigh of relief is reasonable in the circumstances.

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