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

To: shortee who wrote (8516)	5/5/1998 8:15:00 AM
From: E. Charters	Respond to of 10836

Well knowing and all is great. Tell us what you know. Be specific. I am not crazy about the country in every imaginable way. But big mines do get started in small countries. And even in Canada, which is much more mining unfriendly and foreign ownership frosty than Venezuela (and proud of it.) I cannot imagine the government or people of Venezuela rumouring that a major mineral find, a significant source of wealth and one of the world's great copper resources was a scam and anyway its development dangerous to a river that had a Ph of 5.0 and no fish and then confiscating it and making it a park and specifically giving control of it to the Indians. But that is what they did in B.C. to Geddes Resources and Royal Oak on the Windy Craggy. And to string that process out over five years and giving piddling compensation to the company. What compensation did they give to the people of BC for lost jobs and opportunity for the next 100 years? Never mind that did you ever hear of the Big Ledge? No because it was never developed and that 1000 jobs for thirty years was kyboshed courtesy of the Socreds. And what about the province expropriating the flow through water power of Cominco's in Trail threatening the viability of the Smelter there? Do you think the Venezuelans are that shameless? It would be impossible to be more so than then the Canadians or Al Gore. Or what about Wyoming or California or many of the other States? Or Newfoundland if you find a big nickel mine? Would you rather see them break promises on taxes and hold out their hand for bribes and green you to death there? I think they are doing alright in Venezuela. It looks pretty straight forward to me. And I know people who have been there and getting title was like pulling teeth. And I know more than one company very well who has been there. I wouldn't go without a substantial budget. But you "know" Venezuela. So tell me, they need the mine. They know Crystallex will develop it. They know they own it. Don't you think they will fasttrack it to help their balance of payments? They might. Newfoundland and BC think Corel draw and welfare is the better option for now, but I don't think the Venezuelans are that stupid. echarter@vianet.on.ca The Canadian Mining Newsletter