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Gold Reserve Inc. Message Board

  • happiesthihosilveraway happiesthihosilveraway Jul 26, 2007 6:27 AM Flag

    i warned u thevet, and others

    Crystallex (KRY) shareholders were shocked by the news that Paradigm cut their overly rosy target from C$8.50 to C$5.50. Apparently, "Hanio" Hugo Chavez is getting ready to deliver some more bad news. Moreover, the opposition newspaper El Universal has recently reported (7-11-2007) that Gold Reserve (GRZ), which owns the rights to the adjoining Las Brisas deposit, has had absolutely no success in getting the final "exploitation license" required.

    More troubling, though, is that El Universal details on the English version of their website that the Venezuelan Ministry of the Environment takes the view that:

    Granting of permits for gold exploitation on south Venezuela is being assessed at leisure, because the economic benefit is lower than potential environmental damages.

    To further round out the picture, El Universal reported that Minister of the Environment Yuvir� Ortega during a press conference stated that Venezuela is "making a comprehensive review of these applications for exploitation" because "mining has caused most serious damages to the country." If the writing wasn't already on the wall and Crystallex shareholders did not take their cue from Mark Turner of Hallgarten & Co. previously, I would strongly argue that now is the time to "close out" their positions while they can. The future does not bode well.

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