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

To: Valentine who wrote (6927)	3/18/1998 12:44:00 PM
From: E. Charters	Read Replies (1) \| Respond to of 10836

The opinion on the admission of motions I held is also that of Judge Acuna of the Supreme Court of Venezuela, publicly stated. Adjust your views as you wish. ***************************** The Canadian Mining Newsletter March 18 1998 ***************************** KRY/TSE halted until News Conference Tomorrow. Sharp drop in KRY shares this morning. Why? Well, a congressman in the Venezeulan Gov't, a Rodrigues, made an unscheduled speech this morning. It seems that this worthy, Social Democrat like Elias Ynaty, head of the CVG is upset that CVG will lose its rights to Los Cristinas. Tsk, tsk. So what does he do? He alleges that their are "improper" claims to the ownership of Los Cristinas 4 & 6. We knew that. That is why their is a Supreme court case into the matter right now. It is most improper while the court convenes the matter of ownership to call for a gov't investigation into what the court is considering. It is called contempt of court. Rodrigues had better watch it. We have seen similar things from the NDP concerning the Dudley George incident in Provincial politics. Opposition gets outraged and calls for an inquiry while the courts are doing essentially the same thing. The gov't (CDN) refuses on legal grounds and says it is duplication of the court's tasks and interference with the court. True. So why is everybody in a flap in VZ? Well the old Social Democratic Party of which Elias Ynaty would dearly wish to become head is quite a force in "old" style corrupt politics of Venezuela. They have decided that if they cannot win in court they will drag it out politically and win in an election (coming up in December). What this tells us is that they have realized they are unlikely to win in court. The party itself and their organs of corruption, ie: CVG, are in disarray as well. It's like the regime of Maurice Duplessis AFTER Rene Levesque got elected. Naturally they will posture a win if they are asked. It is the opinion of many journalists in Venezeula that they have had their day, though. This brings us to the Scenario of what will happen when Crystallex wins in court? Will they be allowed to operate as they should and develop a mine at LC 4+6? I think the important thing is the MEM and not CVG and their political cronies. Recently the MEM has publicly repudiated the position of CVG and refused to give Dome license to operate on the disputed claims. Recently as well Dome had announced that it would stop development until the court case was over. Well, it must be about over or the whale of CVG would not be thrashing about on the beach in such an unseemly manner. Believe it or not, the volatility is fundamentally good. It means you can make a lot of money on KRY. If it will tremble like this at this "news", then it will fly when the sky is blue. EC<:-}