ECM.VSE - El Callao Mining. Message Board

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Gold/Mining/Energy : ECM.VSE - El Callao Mining.

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To: John Soileau who wrote (1212)	5/12/1999 8:12:00 AM
From: Syncrude	Read Replies (2) of 1253

John, I hope that you are not basing your investment decisions on the on-again off-again announcements by MINCA/Placer Dome. There is still no sign of the much expected new Mining Law. Placer Dome has, so far, held two ribbon cutting ceremonies that have not been followed up by start of any physical construction, only re-start of engineering studies. As well, PDG was not able to secure the non-recourse financing that it had been seeking, likely due to the political turbulence in Venezuela and quite possibly the fact that title to Las Cristinas, as confirmed by the Supreme Court of Venezuela, is registered in Inversa Mael. In addition, you can expect Crystallex to pursue their initiatives to fully enforce its rights to Las Cristinas. The first three rulings were favorable to Crystallex, while the fourth which sought to have actions (granting of mining rights) taken by the Ministry of Mines reversed, was not successful. Crystallex is forced to take another legal avenue to complete the logical conclusions of first three consecutive Supreme Court victories.

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