Crystallex International Corp. WKN 890 729 CA22942F1018 KRY

Kry macht gleich auf.....

Crystallex Confirms Las Cristinas Position
Wednesday September 21, 10:17 am ET

TORONTO, Sept. 21 /PRNewswire-FirstCall/ -- Crystallex International Corporation (Amex: KRY; Toronto) responding to selling pressure in the Company's shares, Crystallex International Corporation's President and Chief Executive Officer, Todd Bruce, reiterated today from the Company's offices in Caracas that there has been no change in the status of the Las Cristinas project or Crystallex's mine operating contract in Venezuela. We are aware of newswire reports which have resulted in pressure on the share price of the company in particular, and on Venezuelan gold mining companies in general. Crystallex prefers to keep the market informed on facts rather than media interpretation and speculation. Although subsequent reports have clarified the initial news wire story, the Company felt it appropriate to comment as follows:
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"Todd Bruce remarked that the market seems to have reacted in particular to a Dow Jones news wire story which reports President Chavez stating that

'Las Cristinas belongs to Venezuela. We will build a national mining

company there.'"

Mr. Bruce noted, "This statement is consistent with the existing situation. The Las Cristinas deposit is indeed owned by Venezuela and administered through the CVG which is a regional natural resource development arm of the central government. The CVG has contracted Crystallex to be its operator for the Las Cristinas project. Our contract is founded and premised upon the ownership of the resource by the Republic of Venezuela. Our commitment is to develop the Las Cristinas assets in accordance with the terms of our contract for the benefit of our shareholders, the Republic and the citizens of Bolivar State. The government is actively pursuing the establishment of a national resource development entity, the core assets of which would consist of mining assets provided by CVG. Thus the Las Cristinas deposit could become a core asset of any new organization created. Our mining contract would remain in tact and be administered by the new mining company. Nowhere has it been said that Venezuela does not intend to honor valid and subsisting contracts with reputable and performing international companies. The creation of the new national mining company would therefore have no practical impact on Crystallex as it is the mine operating contract that governs our role."

Mr. Bruce added, "I would draw the market's attention to the Reuters news wire report that was issued after the initial Dow Jones article to stress that the Reuters article specifically stated:

'Chavez did not say Venezuela would revoke the contract to Crystallex or

that the gold mine the company (Crystallex) was planning to develop would

now be developed by the new state company.'

and to the Vheadline article which noted:

'Somewhat frustrated senior (government) officials speaking exclusively
to VHeadline.com early this afternoon say that (again) some sectors of
the international news media have (perhaps purposely) misconstrued the
President's words to mean that the government is expropriating the Las
Cristinas gold mine from Toronto-based gold miner, Crystallex
International (KRY).

'Nothing could be further from the truth ... the Venezuelan State has
always owned Las Cristinas ... what needs to be explained is that we have
cleared illegal miners off the site so that Crystallex may begin mining
operations under it's exclusive Mine Operations contract with the
Venezuelan Guayana Corporation (CVG).'"

Crystallex fully intends to continue in the fulfillment of its obligations under its Mine Operating Agreement ("MOA") upon receipt of the final environmental permit.

Crystallex Says Mine Plans Are on Track

Wednesday September 21, 12:18 pm ET

Crystallex Says Plans to Develop Major Gold Mine in Venezuela Are on Track

CARACAS, Venezuela (AP) -- The president of Toronto-based Crystallex International Corp. said Wednesday that plans are on track for the firm to develop a major gold mine in eastern Venezuela.
The comments by company president and CEO Todd Bruce came a day after Venezuelan President Hugo Chavez referred to the Las Cristinas mine in a speech.

"It belongs to Venezuela, and there we are going to set up a national mining company," Chavez said during his speech.

Todd said in a statement there has been no change in the status of the Las Cristinas project or Crystallex's mine operating contract in Venezuela.

"The Las Cristinas deposit is indeed owned by Venezuela and administered through the CVG, which is a regional natural resource development arm of the central government," Todd said. "The CVG has contracted Crystallex... Our contract is founded and premised upon the ownership of the resource by the Republic of Venezuela."

Todd said the company is committed to developing the mine "in accordance with the terms of our contract" and for the benefit of shareholders as well as Venezuela and local residents.

He recognized the government is working to establish a new national mining company.

"The Las Cristinas deposit could become a core asset of any new organization created," Todd said. "Our mining contract would remain intact and be administered by the new mining company."

He said the creation of the new national mining company would "have no practical impact on Crystallex as it is the mine operating contract that governs our role."

Crystallex says the Las Cristinas mine is expected to begin commercial gold production in the second half of next year, at an initial rate of about 300,000 ounces (8,400 kilograms) a year.

Company officials are awaiting environmental permits that are considered a mere formality.

The firm has said it plans to spend US$265 million (euro217 million) building the mine and a processing plant.

Environmentalists and indigenous groups have tried to block the mine's construction in the past, saying the work could cause environmental damage and disturb nearby Indian communities. Government officials have said there would be minimal environmental damage.

Illegal miners have been extracting gold for decades in the area, located among forests some 1,200 kilometers (750 miles) southeast of Caracas, the capital.

UPDATE 2-

"The news media is way off base, blew everything out of proportion, and the controversy will, once again, subside." ( das wars !)
Dow Jones News wire...

Crystallex moves to ease fears. stock claws back :))

Wed Sep 21, 2005 01:16 PM ET

(Recasts with stock price move, analyst comment, other Venezuelan miners. Changes dateline from OTTAWA)

By Nicole Mordant

VANCOUVER, British Columbia , Sept 21 (Reuters) - Shares in Crystallex International Corp. (KRY.TO: Quote, Profile, Research) clawed back about half the value they lost on Tuesday after the Canadian mining company moved on Wednesday to soothe investor panic that its big Venezuelan gold operation could be nationalized.

"The stock has climbed back with clarification from the company," said John Ing, an analyst at Maison Placements in Toronto, as Crystallex's stock gained 66 Canadian cents, or 40 percent to C$2.31.

Crystallex's stock sank 48 percent to a two-year low of C$1.65 on Tuesday after comments from Venezuelan President Hugo Chavez about the Las Cristinas area, where Crystallex's property is located. "That belongs to Venezuela, and there we are going to create a national mining company," Chavez said in a speech.

But Crystallex's chief executive, Todd Bruce, said on Wednesday that there has been no change in the status of the Las Cristinas project or the firm's contract to operate a mine there. It has always been clear that Venezuela owns the find, he said.

"The Las Cristinas deposit is indeed owned by Venezuela and administered through the CVG (Venezuelan Guayana Corp.), which is a regional natural resource development arm of the central government," he said. "The CVG has contracted Crystallex to be its operator for the Las Cristinas project."

Ing said it did not help that the scare came at a time when Crystallex investors are already on tenterhooks because they are waiting for a long overdue environmental permit that the company needs before it can start building a mine on the property.

The Las Cristinas project is one of the world's largest undeveloped gold projects and Crystallex's flagship venture but its development has been delayed for years because of legal wrangles and hold-ups in obtaining permits.

Once in operation, it is expected to produce about 300,000 ounces of gold a year in its early years.

"This (stock) is definitely not for widows or orphans, yet at the same time this is 12 million ounces (of gold) and that's why so many people are talking about it," Ing said.

Shares in other mining firms with properties in Venezuela were also in recovery mode on Wednesday after being spooked by the nationalization alarm.

Gold Reserve Inc. (GRZ.TO: Quote, Profile, Research) , which owns the Brisas gold and copper project, rose 10 percent to C$3.44 after losing 24 percent of its value on Tuesday. Bolivar Gold (BGC.TO: Quote, Profile, Research) , which owns the Choco gold properties, rose 8 percent to C$2.60 after sliding 16 percent on Tuesday.

(Additional reporting by Susan Taylor in Ottawa)

Heute kommt eine Entscheidung der Aktionaere, die neue Richtung wird sich zeigen.
Gestern war das Klima 50/50 aber heute nach der Nachricht das Venezuela alle MInen Konzessionen streicht wird es bedenklich welche Richtung nun KRY wirklich einschlaegt. Ich sitze mit Schnitt 2.37 USD und mein Stoploss sitzt bei 1.65 USD. Bei Hecla kann es mich schwerer erwischen dort sitze ich jetzt schon genauso viel im Minus wie bei KRY for me Venezuela.Bolivar ist auch noch da, aber da bin ich erst gestern rein zu 2.65 C$.

Immer Mist wenn Hugo zur Salsa Party kommt und rumgroelt.
Aber vielleicht wird es nicht so heiss gegessen wie es gekocht wird zur Zeit. Um 17 Uhr weiss ich wie heiss die Suppe ist.

C'est la vie

XAX

[Blockierte Grafik: http://images.encarta.msn.com/xrefmedia/sharemed/targets/images/pho/0007f/0007faf3.jpg]

Aladin,

dann noch viel Spaß bei der Salsa-Party mit El Presidente. Ich schau mir das lieber aus der Ferne an, obwohl Hugo sicherlich ein charmanter Gastgeber ist:
>Ausländische Investments sind entbehrlich und ausländische Investoren, denen die Konditionen in Venezuela nicht passen, können ihre Koffer packen.<
(Mr. Chavez also slammed foreign investment as "expendable" and said foreign investors who didn't like conditions in Venezuela could "pack their bags and leave." )

Kruzifix, der Schuss ging nach hinten los, aber kapitulieren tue ich darauf erst Recht nicht.
Ein Tag zu frueh anglangt.
Die soll sich nun ausbluten und schau dann wieder drauf.
Der Tanz war teuer bis jetzt, C'est la vie !
Hugo der Sack haut mir einen auf den... !
Na warte !

Es geht um die permits vor 1998, also vor seiner Regierungszeit.
Übrigens demokratisch gewählt und der äußerst beliebt beim "Volk".
Weil unter Chavez geht es ihnen wieder relativ gut.

Die Erlöse für die Permits vor 98 gingen zum Großteil in die privatschatullen der jeweiligen.........

Noch einmal. las christinas hat immer Venezuela gehört (Original CEO von CRY). Ich glaube, dass Kry nur teilweise betroffen ist und die Verträge nach 98 auch bleiben werden.
Aber ich bin nicht investiert, sonst könnte ich euch mehr dazu sagen.

Grüße
Tschonko

B.Traven: "Der General, der aus dem Dschungel kam"
ist zwar mexico anfang des 20.Jhdts., aber man bekommt eine Vorstellung.
Und vielleicht mal googeln: hugo chavez und Venezuela.

Komisch das sich die News nicht auf Hecla bis jetzt auswirkt.
Wenn ich jetzt Kohle haette dann wuerde ich wieder KRY und BGC.TO kaufen, das ganze ist ein Bluff fuer mich oder die grosse Auswaschung von Venezuela Aktien. Vielleicht mache ich es, das mit Hecla stinkt zum Himmel, die muessten auch so runter.

Auch keine Gegenmeldung von denen, sehr komisch !

Ciao, der Salsa geht weiter.

XAX

Nach Aufstockung 20 - 30 (2 U$) 30-40 (1.90) kommt nun 40-50 (1.63) bei Kry for me Venezuela.

Nach Neukauf von BGC (2.57 C$) kommt nun 10-20 fuer (2.20 C$)

Da kenn ich nix, mach schnell wo anders Geld frei.

GFI und HMY Kohle nehme ich da, was wahrscheinlich falsch war.

Mal schaun, so schnell geh ich nicht von der Salsa Party.

XAX

Aladin,
das ist ganz einfach.
Hecla hat den vertrag mit Venezuela (Chavez) schon vor ca. 2 Jahren gemacht.
Und zwar neu gemacht.
Sind kluge jungs, sprich erfahrene.
Da gab es auch vorherStunk.
Ich hatte Hecla da vorher mit Gewinn verkauft. Ohne davon was zu wissen.

Tschonko

PS.: aladin, imho versteifst du dich da etwas. Mal lockerlassen und die Trübe im Wasser aufklaren lassen.
Nur so als sage advice, der mir natürlich nicht zusteht.

Thanks, hast Recht Tschonko,.. I chill now !
Das Hecla einen Vertrag hat wusste ich nicht, aber was bedeutet das schon in Venezuela.

Viel,
oder sagen wir mehr als in den USA.
USA, das land der broken treaties.
Davon singen die Indianer......
Na, und heute???

T.

Tschonko,

B. Traven hatte keinen Vornamen und der Nachnamen

muß rückwärts gelesen werden (Nevart).


Aber Hugo ist Hugo. Da helfen keine Verträge.

"wie eine Träne im Ozean"

Eldo,

es mag ja richtig sein, daß Hugo den Tequilla mit

Brennspiritus gelängt hatte. Aber die Herrschaften

mit Ausblick auf die Mainzer Landstr. müssen damit

umgehen. Und Du solltest bedenken, was die

tuen oder vielmehr lassen müssen.

Venceremos

Patria ou muerto

Tequila mit Zitrone und Salz!

Danke Edel Man , sehr hilfsreich der Report.

KRY hat sozusagen auch einen Vertrag, oder ?

Cristinas gold fields for which is has an exclusive 40-year mine operating contract. Kansai Mining is said to have begun work on a diamonds deposit in southeastern Venezuela and remains unaffected by the President's reform policy statement.

Venezuela Congress to Probe Mining Companies, Concessions

Sept. 22 (Bloomberg) -- Venezuela's National Assembly will open a probe into mining companies operating in the country, including concessions granted in the mineral-rich southeastern state of Bolivar.

Deputy Pedro Jimenez Flores said in a statement on the National Assembly's Web site that congressmen will travel to Bolivar next week to study the conflict between small miners and Crystallex International Corp. in the Las Cristinas tract, the country's largest gold deposit.

Jimenez Flores, who didn't answer calls seeking comment, also said that all mining permits authorized in Bolivar should be reviewed
..
http://www.bloomberg.com/apps/…zSxjg&refer=latin_america