Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Crystallex (KRY) -- Ignore unavailable to you. Want to Upgrade?

To: Syncrude who wrote (10120)	10/12/1999 12:34:00 PM
From: richard badauskas	Read Replies (1) \| Respond to of 10836

Again I stand corrected. Understand that there were plans to develop Albino underground operation and to increase mill from 400t/p/d to 800 t/p/d. This has been put on hold due to Las Christinas matters. This all has to do with ongoing litigation AND the new mining law that came into force last week. Also understand that S. G. Mine is coming along very well and there is a real possibility to boost production by about 5-15,000 ozs. p.a. AND to investigate the possibility of adding more production by treating low grade ore by way of a heap leach operation (this is in the early planning/investigation stages). I understand it this way. Last week the Venz. Govt. put into effect a new Mining Law. That new law stipulates that ALL mining development MUST proceed with the consent of the holder of a REGISTERED CONCESSION. Parties that only hold mining contracts MUST convert the property to be mined to a registered concession before continuing mining work. They have 90 days to do this (from the date the law came into force last week). I understand that KRY thru' one of its subsidaries is the REGISTERED HOLDER OF THE LAS CHRISTINAS CONCESSION. PDG has a contract relationship with CVG to develop Las Christinas AND according to this new law they (PDG) now have 90 days to go to KRY (as registered holder of the land) and seek KRY consent to register PDG as holder of the concession. PDG CANNOT continue development WITHOUT consent of the registered holder. I understand that the Venz. Govt. wanted to put an end to having unregistered contractual interests having effective legal control over mining lands. All interests will be required to be registered ON TITLE. I have looked around the various chat sites and have not seen any discussion on this critical point. IF my view is correct then PDG will be under an obligation to make a press release shortly explaining the effect of the new mining law on its claims to Las Christinas. Any comments? I do not claim to be an expert on Venz. law and my interpretation may be faulty. BUT I put these comments onto this website for discussion. IF this interpretation is correct it has very major ramifications for all of the parties concerned. Maybe someone can call PDG and ask them?