Saturday, May 3, 2008

Crystallex: After years of delays, Venezuela OK'd development of the Canadian miner's massive gold deposit. Now, they say, 'Sorry, no.'

Crystallex International Corp., On the TSX, Friday close -- $0.78, down $0.96 on the week: It's enough to give beta a bad name (as if sleazy hedge funds and suspendered short-sellers driving down your stock values haven't already succeeded). Um, where were we? Oh yes, Crystallex. After years of delays, Venezuela OK'd development of the Canadian miner's massive gold deposit. Now, they say, 'Sorry, no.' The stock lost half its value.

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