Crystallex Updates Shareholders on Las Cristinas Dialogue
2008年11月29日 - 7:43AM
Marketwired
Crystallex International Corporation (TSX: KRY)(NYSE-A: KRY) today
updated shareholders and stakeholders regarding various matters
concerning its business.
Ongoing Dialogue with the Venezuelan Authorities
Crystallex maintains ongoing dialogue and correspondence with
Venezuelan ministries and key government officials regarding the
Authorization to Affect Natural Resources (the "Permit") for the
Las Cristinas Gold Project and the status of its Mine Operating
Contract ("MOC"). As part of this interaction, Crystallex filed a
writ with the Ministry of Environment and Natural Resources
("MinAmb") on October 24, 2008. This document supplemented
Crystallex's prior appeal and requested that the Minister of MinAmb
take the Vice-Minister's August 20, 2008 letter into consideration
in rendering her decision on the appeal. This August 20, 2008
letter indicated that Crystallex's previous submission on August 4,
2008 complied with government guidelines on environmental and
social matters and was viable from a technical perspective.
On November 28, 2008, Crystallex delivered a letter to the
Government of Venezuela notifying it of the existence of a dispute
between Crystallex and the Bolivarian Republic of Venezuela
("Venezuela") under the Agreement between the Government of Canada
and the Government of Venezuela for the Promotion and Protection of
Investments (the "Treaty").
It is Crystallex's intention to settle the dispute amicably
within six months. If the dispute has not been settled amicably
within six months, Crystallex has the option of submitting the
dispute to international arbitration. The dispute has arisen out of
MinAmb's decision dated April 14, 2008 to deny the Permit and
Venezuela's subsequent media statements attributed to the Minister
of MIBAM on November 5, 2008 regarding the status of the Project
and the MOC.
Special Meeting of Shareholders
Crystallex held a special meeting of shareholders on November
18, 2008. At the meeting, the first two items of business, namely
the approval of a stock option plan which would have permitted
Crystallex to issue stock options to purchase up to 5% of
Crystallex's common shares, as well as the ratification of certain
option grants to directors, officers and employees, were withdrawn
from consideration. The shareholders did approve the directors'
share plan as described in the management information circular
prepared in connection with this meeting.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain
statements included or incorporated by reference in this news
release, including information as to the future financial or
operating performance of the Company, its subsidiaries and its
projects, constitute forward-looking statements. The words
"believe," "expect," "anticipate," "contemplate," "target," "plan,"
"intends," "continue," "budget," "estimate," "may," "schedule" and
similar expressions identify forward-looking statements.
Forward-looking statements include, among other things, statements
regarding targets, estimates and assumptions in respect of gold
production and prices, operating costs, results and capital
expenditures, mineral reserves and mineral resources and
anticipated grades and recovery rates. Forward-looking statements
are necessarily based upon a number of estimates and assumptions
that, while considered reasonable by the Company, are inherently
subject to significant business, economic, competitive, political
and social uncertainties and contingencies. Many factors could
cause the Company's actual results to differ materially from those
expressed or implied in any forward-looking statements made by, or
on behalf of, the Company. Such factors include, among others,
risks relating to additional funding requirements, reserve and
resource estimates, gold prices, exploration, development and
operating risks, illegal miners, political and foreign risk,
uninsurable risks, competition, limited mining operations,
production risks, environmental regulation and liability,
government regulation, currency fluctuations, recent losses and
write-downs and dependence on key employees. See "Risk Factors"
below or in the Company's 2007 40-F/Annual Information Form. Due to
risks and uncertainties, including the risks and uncertainties
identified above, actual events may differ materially from current
expectations. Investors are cautioned that forward-looking
statements are not guarantees of future performance and,
accordingly, investors are cautioned not to put undue reliance on
forward-looking statements due to the inherent uncertainty therein.
Forward-looking statements are made as of the date of this
Management Discussion and Analysis and the Company disclaims any
intent or obligation to update publicly such forward-looking
statements, whether as a result of new information, future events
or results or otherwise.
Contacts: Crystallex International Corporation A. Richard
Marshall VP, Investor Relations 1-800-738-1577 Email:
info@crystallex.com Website: www.crystallex.com
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