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

To: Bob Walsh who wrote (6242)	3/5/1998 9:12:00 PM
From: Gerald Oglesby	Respond to of 10836

Wild, Wacky, stuff from VHeadline/VENews Subject: VMI-L -- Briefing No.2 - Thursday, March 5, 1998 Date: Thu, 05 Mar 1998 20:21:45 From: "Roy S. Carson" To: VHeadline/VENews VMI-L -- Confidential Briefing No.2 - Thursday, March 5, 1998 ================================================ -- YOU MAY CIRCULATE AS YOU WISH -- ================================================ I have just spent an exhaustive couple of hours going over details of the case before the Supreme Court of Justice with a top-flight source and can conclusively report that the CSJ 4th Ruling will NOT deal with the legal ownership of Las Cristinas 4 or 6. Before you fall off your chairs or have a heart attack, I hasten to add that it is wholly unnecessary for the CSJ to define what has already been defined and confirmed in a final and binding decision by the CSJ PAC on May 9, 1991, which established that Ramon Torres had acquired the rights to LC4&6 from Dot de Lemon in a "valid and legal manner". Because of the Ministry of Energy & Mines obstinate attitude and refusal to comply with the 1st Ruling and a 2nd on October 16, 1996, as well as a 3rd on April 15, 1997, the CSJ PAC considered itself forced to qualify the supreme legality of its ruling by ordering the Notice of Transfer published in an extraordinary issue of the Venezuelan Official (Legal) Gazette No.5,146 dated May 15, 1997. Lest there be any remaining doubt as to the validity of Inversora Mael/Crystallex's ownership of the LC4&6 concessions, I would also refer to the preceding review and confirmation by the 1st Court of Mercantile Matters of the Judicial Circuit of the Federal District and State of Miranda on April 16, 1986, upon which Inversora Mael was duly registered at the Public Registry Office of the Roscio District of the State of Bolivar -- Record No.16, April 21, 1986, Second Quarter of 1986, pages 37-42 -- under the explicit legalities of and in accordance with the Venezuelan Mining Law. Inversora Mael remains to this day as full and exclusive titleholder to Las Cristinas 4 & 6 and according to Article 57 of the Venezuelan Mining Law it is ONLY the Supreme Court of Justice that may review and decide on nullity or invalidity of mining concession titles. Ergo: The 8 motions filed by Inversora Mael subject to Substantiation Judge Acuna's July 15 admittance and subsequent admission of three other motions she had previously held to be subject to a Statute of Limitations provision do NOT concern the legal ownership of the concessions which has been adequately and conclusively proved before Venezuelan Law. At issue is Inversora Mael's petition to rescind erronious resolutions issued in 1989 by the Ministry of Energy & Mines which impinge on Inversora Mael's 100% ownership of said concessions: "Inversora Mael's claim has the principal purpose of obtaining the annulment of administrative acts issued in 1989 by the Ministry of Energy & Mines affecting Inversora Mael's rights over Las Cristinas 4 & 6." Let's be 100% certain then that the CSJ PAC 4th Ruling will be "definitive" ... that is to say it will set up a set of clearly defined procedural actions by which Inversora Mael/Crystallex will follow each bureaucratic step towards reestablishing the force of its legally-owned gold concessions. There is NO avenue by which Placer Dome can claim legal ownership of Las Cristinas 4 & 6 nor indeed is there any means by which either the Venezuelan Guayana Corporation (CVG) or the PDG/CVG JV, MINCA can EVER establish any such claim of legality over the concessions which remain in legal ownership of Inversora Mael. The process by which Inversora Mael/Crystallex will arrive at the obvious conclusion to its legal endeavors and be able to begin mining operations at Las Cristinas 4 & 6 will take an approximate 12 months through all Venezuelan judicial channels. >From what I understand, Minera Venamo (MinaVenCa) plans for the immediate area, including improvements to the immediate local infrastructure and extensions to milling and processing plant at the nearby Albino concession, will easily accommodate this time lapse secure in the knowledge that there is now NO WAY in which legal ownership of LC4&6 may be removed from its rightful owners, Inversora Mael/Crystallex International. Ministry of Energy & Mines officials here in Caracas have now (somewhat belatedly) realized the obvious unconstitutionality of their refusal to obey three previous CSJ rulings and, as you are well aware, Crystallex International is now the flavor of the month with Ambassador Enrique Tejera Paris now in Chairmanship charge of "wider picture" developments which are expected to be formally announced shortly after the latest CSJ PAC ruling is finally handed down. My general understanding from the court is that this may happen next Thursday, but I'm NOT going to get involved in more discussions of how long is a piece of string. It will happen when it happens. The concessions are legally the property of Inversora Mael which is legally the property of Crystallex International. Need more be said? best regards Roy S. Carson

To: Bob Walsh who wrote (6242)	3/5/1998 9:18:00 PM
From: RMF	Read Replies (1) \| Respond to of 10836

Always good to read the Insider Report. If we could only get the latest from the penny stock guru guy, we'd have all the experts to back up Roy Carson. Everybody knows the background of Roy right. Was it Harvard undergrad or grad?

To: Bob Walsh who wrote (6242)	3/5/1998 10:14:00 PM
From: Mama Bear	Read Replies (1) \| Respond to of 10836

Since everyone likes disclaimers, I thought I'd give everyone here a chance to read the one at the end of your link at: stockhouse.com >>>The information presented in the Insider Report & E-mail Bulletins is not an offer to buy or sell securities referred to herein. This is a daily financial gossip column, strictly for information purposes. In no way do we perport to make recommendations on any stock and do not pretend to be registered financial analysts and in no way is the information contained herein to be considered factual or complete. Investors are urged to obtain complete financial and other information directly from the company as the Insider Report is not liable for any investment decision made. All companies documented in these documents are to be considered extremely speculative and risky investments. <<< Emphasis was mine. Barb