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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

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To: marcos who wrote (25713)	6/24/1997 12:35:00 AM
From: alan holman	of 28369

vheadline.com.ve Also check SI Crystallex thread. Exclusive: Crystallex shares to soar as high as $50-$63 -- report by VHeadline/VENews c Editor Roy S. Carson -- Caracas: Saturday, June 21, 1997 -- News from a VHeadline/VENews source in London says that (Canadian) Crystallex International Corporation shares could soar to anything between $50-$63 during the next week ahead of an Annual General Meeting of the company to be held in Vancouver next Friday (June 27). Reserve estimates at Crystallex's Las Cristinas 4 & 6 concessions at KM88 in Venezuela are "under revision" and an expected announcement paralleling -- if not exceeding -- Gold Reserve's reassessment is seen as "imminent". Crystallex International's president Marc Oppenheimer and Vip Richard Marshall have gone to ground (supposedly in New Jersey) as details leak that "a major international hedgefund" has been buying Crystallex (KRY) stock like there's no tomorrow. It's said to be approaching a critical 9.95% of the company's stock purchased on the open market, but it's known that the buyers have been trying to work a behind-the-scenes deal to get their hands on some $20 million-worth more shares without running foul of mandatory disclosure regulations. Meanwhile, here in Venezuela there's "concealed activity" as Economic Coordination and Planning (Cordiplan) Minister Teodoro Petkoff mulls over the past week's meeting with Crystallex lawyers in which it was made patently clear that the Canadian company holds all the cards. Sources close to the Minister say he's working out the best way to get rid of Venezuelan Guyana Corporation (CVG) president Elias Nadim Ynaty without upsetting an applecart implied in the upcoming privatization sell-off of state-owned Siderurigca de Orinoco (SIDOR). Ynaty's been a fly-in-the-soup to all concerned recently and has caused "discontent" at the Accion Democratica (AD) Central Executive Committee over unabashed statements that appear to place him as an official spokesman for AD ... a major faux pas which AD leaders have not been tardy to very publicly point out. Behind the scenes, Minister Petkoff has promoted the possibility of pulling CVG out of Las Cristinas where it holds a 30% joint venture partnership with (Canadian) Placer Dome. But the reality is that former-guerrilla Petkoff -- who is on a personal crusade to clean up Venezuela's corruption-ridden bureaucracy -- would rather see Placer Dome take a hike after the Supreme Court of Justice (CSJ) hands down its rubber-stamp ruling projected for early next week. Placer Dome (despite its protests of innocence) is said to have been very much aware of Crystallex's unequivocal rights to the Las Cristinas 4 & 6 concessions at a very early stage of the proceedings. They'd been made patently aware of the situation by their Venezuelan head of operations Brooke MacDonald, who was pulled out to Costa Rica when the going began to get rough. Although the pull-out may have been "mutual" MacDonald decided himself to jump ship completely after only a few days in San Jose whereupon he returned to Vancouver. CVG Ynaty's been frantically "pushing bells" in Vancouver recently too, but his credibility has been going through Canadian topsoil just as quickly as it already has on home base. Energy & Mines Minister Erwin Arrieta is increasingly seeing Ynaty as an embarrassment and Placer Dome has distanced itself with the speed of light from Ynaty's OTT claim that CVG's going to sue Crystallex... Nevertheless, the next six days to Vancouver should be pretty exciting. Drilling results and assay reports are under lock and key but according to VHeadline/VENews usually reliable source in the City, we're probably talking in excess of $1.5 billion...

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