Why is it when I follow Asensio, as with WDRY, nothing happens; and when I don't follow Asensio, as with KRY, the stock collapses within a couple of weeks?
I could have been a contender!
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VENEZUELA OFFICIAL SAYS CRYSTALLEX CLAIMS FALES
MIAMI, March 18 (Reuters) - The Venezuelan government said on Wednesday that Vancouver-based Crystallex International Corp's <KRY.TO> claims to the disputed Las Cristinas gold mine deep in the Venezuelan jungle were false.
Both Crystallex and Toronto-based Placer Dome Inc <PDG.TO> have claimed title to the mine, which some analysts said could be one of Latin America's richest gold mines.
Last year, Crystallex filed an appeal of Placer's rights in the Venezuela Supreme Court, touching off speculation that the Placer could lose its rights to the concession.
"We want to tell you that, despite numerous published claims in the Canadian press made by Crystallex International Corp and its promoters that a pending court challenge in Venezuela could give it the rights to gold concessions on these parcels, the claims are not true," Rafael Rodriguez Acosta, president of Venezuela's congressional commission on mining, told a news conference.
"That is all plain and simple. Crystallex does not have the rights it is claiming and which it is telling its investors it has," Acosta said.
Acosta also said the Venezuelan government had asked the country's supreme court to render a speedy decision on the pending court case and added that it was unlikely that Crystallex would win its appeal.
"We must reassure all potential investors in Venezuela that the rule of law prevails in Venezuela and that claims like those made by Crystallex cannot and will not be tolerated," Acosta said.
Acosta's sudden announcement sent Crystallex shares tumbling down 2.65 to 4.50 a share in heavy trading on the Toronto Stock Exchange.
The company's shares traded as high as 11.85 last month. |
