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Gold/Mining/Energy : Crystallex (KRY)

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To: viper who wrote (6899)	3/16/1998 3:35:00 PM
From: Andy	Read Replies (3) of 10836

I am totally dismayed at the apparent complete and utter lack of knowledge displayed by the likes of Viper and Valentine and so I felt it was time for me to try and set the record straight. These two have absolutely no idea whatsoever about the Venezuelan legal system (which isnt that different at the Supreme Court level as the Canadian and US systems). 1)MAEL already have the concessions retroactive to 1986. If you dont believe me just ask Hugh Leggatt at PDG! They do not have nor ever did have title to the concessions. Neither have the CVG or MEM had these. 2) CVG granted PDG WORK CONTRACTS (again if you dont believe me ask Hugh Leggatt at PDG). The actual documents are available on the web somewhere. I dont remember where I saw them. 3) After last springs Supreme Court gazetting of the LC 4/4 gold concessions to MAEL KRY went to the court another time. Why? They wanted the court to declare 11 MEM resolutions void as they were granted without owning the concessions. 4) Judge Acuna solicited as many affidavit's statements as the defendant and plaintiff (and that is MAEL and the MEM not PDG or KRY). could put together. In july she formally admitted the 8 motions concerning the copper to the Supreme Court for consideration. She initially denied the 3 motions concerning gold citing the statute of limitations as not allowing her to grant admission at this stage. An interesting side note here that many of you should have relized ages ago is that under Venezuelan Law copper and other mineral concessions are subsidiary to gold concessions so her admission of the motions asking for a rescindment of MEM copper mining permits etc NECESSARILY took into consideration that MAEL must have had the gold concessions from the SC prior ruling. 5) MAEL / KRY then appealed the non admission of the three motions concerning the rescindment of the MEM mining contracts re: gold. They then provide documentation etc to Acuna as part of the appeal process. She then "Suspended " her prior non adnmission of these three motions based on this documentation. What does this mean? Well it means that all 11 motions have been deemed worthy of consideration by the full Supreme court. The supreme court DOES NOT JUST LOOK AT THE three motions1! They now have in front of them ALL 11 motions for consideration! 6) There is no "Trial" like many of you are imagining! National Supreme Courts do NOT have OJ Simpson like trials. The Supreme court, while sitting to decide upon an issue whihc has been admitted to them for consideration (that is ALL 11 MOTIONS!), may ask that additional information, in the form of documents, affidavits etc be brought to them during their evaluation period. They may also request to meet with people if they so choose. What is happening now is the so called "trial". ALL the evidence is now before the court and they will rule on all 11 motions. 7) Once this is done (and it should be obvious now to one and all) KRY/MAEL will be in a position to 1) have the concessions in their name; 2) Have previous work contracts / minig rights declared null and void. They are then in a position to apply to the MEM for the same permits. Why do you think it was so important for KRY to get the MEM on board! They know they have won the case (at least privately and so does anyone who has done their DD). What they did not want was to run into years of red tape regarding attempting to get permits etc in place through the MEM. 8) With the MEM on board (Arrieta is at present with KRY at the Miami gold show) KRY can now flow through the process smoothly. Within 1 year they will have all permits in place and mining will begin. In the meantime they can drill and set up camps (and bring in the national guard :-) as they own the concessions). 9) Finally, I have heard it in the past said that The president will make a "presidential decree" against the supreme court. Any one who believes this should ask the last president how he liked his jail cell! Best wishes Longs and Shorts. Andy PS Thank goodness so many people do not understand this. The stock would be much higher if they did. PPS If you are short on this I would claim you are nuts. The down side is getting smaller and smaller every day (we now have deep rights gazetted for Albino and the 30 day public examination period has passed). KRY will be producing 80,000 oz per year off their upgraded Albino plant within 12 months. The upside is very large

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