ottorock

Patience, Crystallex Investors: The Venezuelan Government Will Eventually Come Through

So many mining companies at or near all time highs and Gignac yet again asks patience from her pick. Pathetic.

Easy for an analyst from a company that finances KRY to call it a buy, isn't it? More difficult but more honest would to tell her clients that she's been wrong on this call for years and try to repair some of the damage she's caused by saying "walk away while you can".

$10 a share target with the dilution this thing has to go through to get to production? It's irresponsible at best. If KRY does reach $10 it'll be on gold price alone and you can bet other gold miners are 10 bagger in the same time period.

Crystallex: Take the Cue and Sell

Of course you can use my calls to further your own (and obviously different) agenda. You are also welcome to remain anonymous. However, if you would like to know what I really think of your analysis feel free to send me a mail. You'll find my address on the hallgarten website.

Crystallex's Las Cristinas Permit Virtually Granted

please note the word "virtual"

Crystallex: Promotion, Politics and Permits

JL Bane,

Your are entitled to your opinion. However, in the interest of balance, i think it necessary to point out that Vice Minister Ivan Hernandez's latest pronoucements (see DJNW story below) make it clear that the new mining law will only affect miners in Venezuela with expired concessions.

As KRY has a current and vigent concession with MIBAM dating from March 2006, it seems clear to the neutral observer that the new law does not affect Crystallex. It is also something your correspondent mentioned in a seekingalpha article in April as the likely scenario even before the confirmation came from MIBAM itself.

Perhaps this recent fact that contradicts your argument slipped your mind..............


UPDATE: Venezuela Mining Min Plans To Finish New Law In 2 MosLast
update: 5/3/2007 7:03:40 PM(Adds background on vice minister's
comments) CARACAS (Dow Jones)--Venezuela's mining ministry plans to
finish drafting a new law within two months that will change existing
mining deals in the mineral rich country, ministry officials said in
a Thursday statement. The new law will convert expired mining
concessions into joint-venture companies where the state will be the
majority shareholder, said the statement. After the ministry finishes
the law, it will be handed to President Hugo Chavez for final
approval. At the start of this year, a 100%-Chavez controlled
Congress gave the president special powers to legislate by decree for
18 months. In the statement, Vice Minister Ivan Hernandez said the
law will give the state "full sovereignty over the mineral resources
in the country." Hernandez first told Dow Jones Newswires last month
of the state's plans for more control over mining. In an exclusive
April 16 interview, he noted the new law will convert mining deals
into joint ventures with the government in control. Hernandez said at
the time that the government planned to convert Crystallex
International Corp.'s (KRY.T) operating contract into a state-
dominated mixed company to run the Las Cristinas gold mine. The
Canadian miner is waiting on an environmental permit to begin
operations. The environmental ministry recently approved a permit for
the Las Brisas mine, controlled by Gold Reserve Inc. (GRZ.T), but has
yet to give Crystallex the go-ahead. In his nationalization drive,
Chavez has taken control of private oil operations and conducted
forced buyouts of the country's largest phone company and private
electricity firms. -By Peter Millard and Raul Gallegos, Dow Jones
Newswires; 58-212-564-1339; peter.millard@...;
raul.gallegos@... (END) Dow Jones NewswiresMay 03, 2007
19:03 ET (23:03 GMT)