Well, Syncrude: Mr. John Ing, president of the Canadian company Maison Placements believes its a done deal. Here is a link to the interview: and an excerpt. I still wonder how $50 can buy you a 10 million ounce gold deposit???
investorcanada.com
"Ing: Well, it’s been a classic David versus Goliath. This Crystallex has fought off the scepticism of the street, Placer Dome, even some members of the Venezuelan government in order to get this project.
IC: How much gold is in the ground down there?
Ing: So the big sticky point has been the ownership that is the rights to the deposit. The Venezuelan government, when Placer walked away, took back the rights so to speak and the decision, the historic decision was granted Crystallex on Friday night.
So there still is a couple more weeks of an agreement to sign, but my understanding is that all the major issues have been resolved.
IC: Now, of course, there is a company in Vancouver that may disagree with you, Vannessa Ventures.
Ing: Yes. Vannessa “bought” the rights to the deposit from Placer Dome in a deal whereby Placer Dome gave it what rights it thought it had to the deposit to Vannessa for the grand sum of $50. So they have been huffing and puffing and the lawyers have been involved.
In mining, no deposit is worth much unless you have a lawsuit. So I am not surprised about the huffing and puffing. But the fact that CVG, which is the crown corporation for the Venezuelan government, has been granting mining concessions in the past and granted this one and the fact that the government is behind it suggests to me that Crystallex has won the deposit and the likelihood of lawsuits, well, that’s part of normal." |
