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

To: c.r. earle who wrote (6170)	3/5/1998 1:58:00 PM
From: ang	Respond to of 10836

Las Cristinas 4 & 6 will be like the oft-quoted beating of butterfly wings which somehow causes profound changes elsewhere in dramatic and significant ways -- a VHeadline/VENews special editorial by c Damon M. Wright -- Vancouver (Canada): Sunday, March 1, 1998 -- More than a year has passed since some of us first bought shares of Crystallex and began learning about Venezuela, the land that will make us or break us in the world of South American gold speculation. I am sure that there are very few of us who expected to "celebrate" (or perhaps "endure"?) a first anniversary of holding KRY without a final CSJ ruling. Believe it or not, we are still waiting for the official announcement that will perfect our title to Las Cristinas. Certainly one of the most intriguing aspects throughout this wait that never ends is Venezuela itself. Venezuela was a shrouded enigma to all but the most worldly shareholders when this adventure began. We knew virtually nothing about Venezuelan politics, law, social climate, or business environment. Courtesy of VHeadline/VENews, we have now had ample opportunity to be saturated with a year's worth of exposure to all things Venezuelan. Some aspects of the country have frightened us, such as the endemic violence and corruption. Others have perplexed and frustrated us, such as manana and the slow pace of judicial and political reform. And others yet have delighted and entertained us -- the beauty and importance of the rainforest ecology has not failed to escape us, and of course I need not elaborate on the five letter word "Irene" for any Crystallex shareholder. After one year, it is readily apparent that Venezuela is a country that is burdened by its past and struggling to achieve reform. The political and economic horror stories of years gone by are still potent wraiths that menace the current administration. The greed and incompetence of the mainstream political parties, the impeached former-President, the banking failures, the misappropriation of funds and contracts, the rampant poverty, and other such black marks have not yet vanished into the mists of the past. Entities such as the CVG and an inflexible, bloated government bureaucracy still stand in the way of nationwide progress. Crime is a difficult problem, and despite Venezuela's immense natural wealth its people are still poor. The current political body, headed by President Caldera is struggling hard to improve matters, I believe. Of course it is not easy, what with the sagging oil prices and a moribund mining industry, but some essential steps are being made. Venezuela's foreign debt has been restructured (hopefully for the better!), and a new paradigm in the legal system has been championed by Chief Justice Cecilia Sosa Gomez. And of vital importance to Crystallex shareholders, of course, it appears highly probable that sweeping reforms are being made to the Venezuelan mining industry. These changes can only help a country that it slowly awakening to yet another failure of the socialist system. Government-mandated control over an economy and its population has consistently failed to achieve worthwhile results in any portion of the globe. Venezuela is no exception and the swifter its people realize this the better their country will perform in the years and decades to come. However, old habits are difficult to break -- especially when the nation's power elite has benefited from the traditional practices and know their supremacy will only erode in the face of change. They will resist all meaningful progress for as long as possible. The classic phrase from Voltaire: "Once the people begin to reason, all is lost" is surely dear to their hearts. Still, reform will be inevitable once the nation finally awakens to its true potential. There are always key individuals responsible for such a social and economic flashpoint. They are always political leaders, business leaders, or social activists. Certainly the most prominent of those Venezuelans who are enlightenment- and reform-oriented is Irene Saez Conde. While the specifics of her policies remain largely unknown, there is no doubting her sincerity and dedication to make Venezuela a better country. Whereas the traditional politicians offer only subtle variations upon old themes, she offers real hope for genuine progress. Two other key figures within the country appear to be the Chief Justice of the Supreme Court and Dr. Enrique Tejera Paris of Crystallex. Dra. Sosa Gomez is vital to Venezuela for her efforts to improve and modernize the legal system to the fullest extent possible. And of course Dr. Tejera Paris should play a key role in protecting Venezuela's sensitive natural environment while simultaneously assisting the growth and efficiency of the country's mining industry. It is not often that the words `environment' and `mining' are compared positively in the same sentence, but our most important Crystallex executive of Venezuelan origin has the connections and the abilities to achieve both goals. I am very pleased that our little (but soon to be much larger!) gold company is intimately involved in the larger effort to assist Venezuela itself. We are on the verge of not only making money on an investment, but also in doing good for the world about us. I think we will succeed in both efforts, for despite the internal and external turmoil, Venezuela seems poised on the brink of effecting real and positive change. An optimistic conclusion for someone living in Canada who has never ventured south of Disneyland, but I am confident in the honest and accurate reporting of VHeadline/VENews. From reading numerous articles over many months, it appears that change is in the Venezuelan breeze. However slow and fraught with difficulty it might be, it is still change. All that is needed to begin the effort is a good push, one that will hopefully be provided in the very near future courtesy of the CSJ. I would like to think that the much-anticipated ruling for perfect title to the Las Cristinas will be like the oft-quoted beating of butterfly wings which somehow causes profound changes elsewhere in dramatic and significant ways. All that is needed is that first subtle zephyr, and we have begun. ******************************************************************* If this turns out to be unreadable then go to stockhouse.com and you will see the article there.