Shares of Crystallex (TSX: T.KRY, Stock Forum) climbed 13.2% to 21.5 cents Thursday, as Stockhouse members posted on the company’s Las Cristinas gold project in Venezuela.
Back on November 5, Crystallex said that it continues to comply with its obligations under the mine operating contract, retains its interest in and remains the builder and operator of the Las Cristinas gold project, and “will continue to press its case for the issuance of the Environmental Permit.” The Las Cristinas site, in Bolivar State, is currently under development “at the initial planned production rate of 20,000 tonnes of ore per day,” says Crystallex.
On November 6, the company requested formal clarification from the Minister of Mines as to the status of the project and the mine operating contract, saying that it had “not been advised by MIBAM or any other government agency of any changes to the control of the Las Cristinas Project or to the MOC.”
On the Bullboards Thursday, CANADIANGOLD7 posted an article from VHeadline Venezuela news, saying that “Venezuela's National Assembly (AN) has approved the disbursement of a further Bs.F 51.8 billion (US$24.12 million) in funds for retraining of personnel at the Las Cristinas gold mine in southern Bolivar State.”
Poindy replied:
Ambassador Perez says that it is NOT Venezuelan government policy to renege on contracts and that all will be clarified in due course. He adds that there are "dark forces" at work to negatively influence Venezuela's political and economic progress but that the Venezuelan government will continue to act in all seriousness, of course, with the best interests of the Venezuelan people uppermost in mind. In conclusion he assures that it is "inconceivable" that Venezuela will simply renege on a properly signed contract (specifically Crystallex/Las Cristinas) and says that there has been a lot of "disturbance" (probably corrupt influences inside and outside of the government) that have affected an early outcome[sic].
