VHeadline Venezuela News reports: A top official was at pains tonight (Tuesday) to deny that any arrangement has been made for Canadian gold miner Crystallex International to go into a joint venture arrangement with Gold Reserve (GRZ) on its 'concession' claim over the Las Brisas del Cuyuni gold mine in southeast Venezuela's Bolivar State.
Rumors has been rife in investment circles earlier this evening that the Basic Industries & Mines (Mibam) Ministry was about to force Gold Reserve into a joint venture or similar arrangement and that Crystallex International was about to buy out Gold Reserve's interests in Venezuela for an undisclosed sum running into multiple $ millions.
But a VHeadline source close to the Mibam negotiations with both companies assures that no such negotiations have taken place.
From the outside it appears that speculators may have been caught up in continuing rumors that Gold Reserve executives have previously projected while executives already on the ground and running in Venezuela would rather project a revocation of Gold Reserve's claim of a 'concession' and turn the Venezuela-owned gold mine over to the State-run heavy industry conglomerate CVG and/or it's gold-mining subsidiary under the terms of a new Mining Act that is shortly to be signed into law.
Further information claims that, in the case of a revocation and a return of Las Brisas del Cuyuni to 100% Venezuelan control, it MIGHT be added to or included in an exclusive mine operating contract awarded by the CVG to Crystallex International.
- This latter has not yet been confirmed by any government or company official at time of writing.
VHeadline Venezuela News
vheadline@gmail.com
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I appreciate your work to debunk Doug Balenger's double-speak and true intentions. IMO, you are helping to show the true desperation that he and Gold Reserve are facing. Relative to the Crystallex situation, do you have any idea when Vice Minister Merely Garcia's comments from this past weekend regarding about the 4.5M mining zone in Bolivar state will be made official?
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