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Gold/Mining/Energy : Crystallex (KRY)
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From: JakeStraw5/5/2006 11:42:45 AM
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"The nationalization sentiment is growing fast and is likely to soon be carried over into other Latin American sectors too, such as mining. Peru is likely to move in that direction soon and the cracks are already showing. Wednesday Crystallex (KRY), which has gold projects in Venezuela, dropped 16 % in share price on fear that mining is the next sector to be nationalized. One property of Crystallex, Las Christinas, is seen as one of the largest gold deposits in the world, with an estimated 13.6 million ounces in proven and probable reserves.

The Venezuelan government awarded Crystallex the contract to develop the deposit in 2002. This property is a prime target for nationalization by Hugo Chavez. Some of the miners and oil companies in the region like Crystallex may be good stocks to short in the near term only for investors to repurchase them cheaper later."
marketwatch.com
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