The Attorney General of Venezuela, the Venezuelan Ministry of Energy and Mines (“MEM”), and the General Counsel of the Venezuelan State-owned company Corporacion Venezolana de Guayana (“CVG”) have each made statements and submitted legal briefs to the Supreme Court in opposition to Crystallex. These official declarations confirm the statements made by Rafael Rodriquez Acosta. Mr. Acosta is President of Venezuela’s Congressional Mining Sub-Committee and was a member of the Special Committee that investigated Crystallex International Corporation’s (AMEX Trading Symbol: KRY) (Price: $ 3.875) Carabobo dealings. Last week, Mr. Acosta accused Crystallex of defrauding investors by claiming it owned the Carabobo mining concessions and by claiming it has a legal action pending against the title to Las Cristinas 4 and 6 gold mining concessions (“Cristinas”). No Venezuelan government official has contradicted or opposed Mr. Acosta’s statements.
The Attorney General of Venezuela’s official opinion is that Inversora Mael, C.A. (“Mael”) does not and has never owned or had any interest in Cristinas. The MEM has declared that no transfer ever occurred to Mael and that Mael does not have and has never had any interest in Cristinas. CVG’s General Counsel has stated that Mael possesses no interest of any personal, legal or direct kind in Cristinas. CVG has further stated that Mael has never been the owner or title holder to Cristinas and that all issues of fact and law have already been resolved. CVG has stated that “it has been sentenced definitively, and firmly approved at trial, that Mael has never held any interest in Cristinas”.
Crystallex has not offered a plausible denial. Instead, Chairman Robert Fung and Director Robert Nihon have resorted to attacking Congressman Rodriquez Acosta. Their attacks are an apparent attempt to make investors believe that Mr. Acosta statements are false. Mr. Acosta’s statements are supported by the official documents and court rulings.
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