Latest Permit Speculation Drives Crystallex Higher

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 |  About: Crystallex International Corp. (CRYFQ)
by: FP Trading Desk

Crystallex International Corp. (KRY) shares were up almost 10% Friday as faithful shareholders reacted giddily to the latest speculation suggesting work will begin very shortly at Las Cristinas, the company's Venezuelan gold project.

Ricardo Gutierrez of Venezuela’s National Assembly reportedly speculated in an interview last week that Crystallex could receive its much anticipated environmental permit as soon as two weeks from now. The National Assembly approved the permit.

Mr. Gutierrez apparently said President Hugo Chavez could give the definite approval for the Las Cristinas production to get started and even lead a special event there at the mines in one to two weeks.

Four months ago Crystallex announced it met all the requirements for an environmental permit.