Crystallex soared 14.8% in early trading today after press reports on possible decision to grant mining permits

Crystallex soared 14.8% in early trading today after press reports suggested that Venezuela’s President Hugo Chavez may decide on whether to grant mining permits to Crystallex and Gold Reserve within the next couple of weeks. Recently, both of these resource companies saw their prices collapse after the Venezuelan Environment Ministry revoked exploration permits, citing environmental concerns. This action suggests that these two companies may move significantly on a decision but there remains a significant risk that a permitting decision may be unfavourable.