Is Crystallex's Environmental Permit Imminent?

Crystallex (KRY) could be within days of the environmental permit needed to start building their Las Cristinas gold mine in Venezuela.

The celebration for Crystallex shareholders is set to begin. After watching breaking news of Gold Reserve’s (GRZ) environmental permit being granted, shareholders of Crystallex were expecting instant approval as well. Since Crystallex is partnered with the CVG the process is taking a bit longer. Comments made by Gordon Thompson regarding getting the permit soon started to be questioned once again, but this time 'soon' really does mean soon. At the Latin American Mining Congress in Miami Gordon Thompson summarized their position to date.

The CVG submitted all official documents needed for the completion of the permit process 5 to 6 weeks ago to MARN officials. Reviews of these documents have taken place and as part of the final process a site inspection has occurred last Friday April 27th 2007. How soon can the permit be granted? Gold Reserve, owner of the Las Brisas mining concession, just recently went through the same process in order to obtain their environmental permit. Upon site inspection the permit was granted approx ten days later.

As stated by Gordon Thompson the permit is expected to be granted soon.

Disclosure: Author is an investor in that stock with 944 shares. This is his opinion.

KRY 1-yr chart

Comments

[afilmaker:]

There is so much hype on KRY, I don't know whom to believe. Why should I believe you? This stock seems to be pushed time and time again by what they call pumpers and bashers. If it were an American stock, I don't believe they could get away with it.

Rock

2007 May 05 03:06 PM

[Todd MacSween:]

Please note: The above author is not Todd David MacSween (Victoria, BC)

2008 Mar 19 12:37 AM