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Gold/Mining/Energy : Crystallex (KRY)

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To: shortee who wrote (10817)	9/20/2005 4:23:22 PM
From: Michael Bakunin	Read Replies (1) of 10836

You may have to wait a while after this: biz.yahoo.com CARACAS, Venezuela (AP) -- President Hugo Chavez appeared to cast doubt Tuesday on a Canadian company's plans to develop a major gold mine in Venezuela, saying it belonged to the state. The Toronto-based company Crystallex International Corp. has said it will spend $265 million (euro217 million) building the Las Cristinas gold mine and a processing plant. Chavez said in a televised speech Tuesday that the mine will be exploited through a new state company. "Las Cristinas belongs to Venezuela. We will build a national mining company there," he said. It wasn't immediately clear how the president's position would affect the plans of Crystallex. Crystallex officials weren't immediately available for comment.

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