Crystallex - Las Cristinas Project

Press Release Source: Crystallex International Corporation

Crystallex Prices US$100 Million Debt Offering for Las Cristinas Project
Friday December 17, 7:39 am ET

TORONTO--(BUSINESS WIRE)--Dec. 17, 2004--Crystallex International Corporation (TSX:KRY - News; AMEX:KRY - News) announced today that it has priced and entered into an underwriting agreement in respect of a U.S.$100 million offering of units. The units may also be sold on a private placement basis in jurisdictions outside of Canada.

Each unit will comprise U.S.$1,000 principal amount of senior unsecured notes due December 2011 and 65 common shares of Crystallex. The notes will bear interest at the rate of 9.375% per year and will not be convertible. The units will separate into notes and common shares immediately upon issue.

The aggregate number of Crystallex common shares issuable pursuant to the terms of the offering is 6,500,000 which represents approximately 3.5% of the currently issued and outstanding common shares of Crystallex.

Crystallex plans to use the net proceeds of the offering to fund the development of the Las Cristinas project.

This press release is not an offer to sell or the solicitation of an offer to buy the units, notes or common shares being offered. There shall not be any offer to sell, solicitation of an offer to buy or sale of the units, notes and common shares being offered in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The units, notes and common shares being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended and the units, notes and common shares may not be offered or sold, directly or indirectly, within the United States or to or for the account or benefit of a U.S. person unless they are registered or an exemption from registration is available.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Crystallex International Corporation (TSX:KRY - News; AMEX:KRY - News)
Contact:

    Crystallex International Corporation
    A Richard Marshall
    Vice-President Investor Relations
    1.800.738.1577
    info@crystallex.com


Source: Crystallex International Corporation  

TORONTO (CP) - Crystallex International Corp. has announced an issue of $100 million US worth of notes whose purchasers will get a bonus of 6.5 million common shares of the Toronto-headquartered miner.


Crystallex said Friday it will use the proceeds to fund the Las Cristinas mine in Venezuela. Each of the 100,000 units to be issued will consist of $1,000 US in senior unsecured notes paying 9.375 per cent interest and due December 2011, plus 65 common shares (TSX:KRY) worth about $260 Cdn at current market prices.

The 6.5 million shares to issued through an underwriting syndicate led by Orion Securities and Sprott Securities represent 3.5 per cent of the company's currently outstanding stock.  

By: Dorothy Kosich
Posted: '02-MAR-05 04:00' GMT © Mineweb 1997-2004

RENO--(Mineweb.com) If Crystallex finally obtains its final permits for the Las Cristinas project within 90 days, the company may have to give credit to two smart and determined elected and appointed officials, who happen to be women.

In a presentation to the BMO Nesbitt Burns Global Resources Conference Tuesday in Tampa, Florida, Crystallex President and CEO Todd Bruce and COO Ken Thomas credited Sifontes, Venezuela, Mayor Marlene Vargas and new Venezuelan Environmental Minister Jacqueline Farias for successfully negotiating for a "very concrete" 90-day timetable relating to the final permitting of Las Cristinas.

Last week, Crystallex representatives and the mayor meet with the new minister and her new regulatory team to push for the final permits, Bruce told analysts and investors attending the conference.

mehr:

hxxp://www.mineweb.net/sections/junior_mining/420541.htm  

Comunidad del Municipio Sifontes exige urgente activación del Proyecto Las Cristinas  
Sindicales y representantes de las comunidades aledañas al yacimiento  aurífero piden celeridad al MARN en el otorgamiento de los permisos ambientales a la empresa Crystallex.

Si el ministro de Empresas Básicas y Minería y presidente de CVG, Víctor Álvarez, no concede audiencia a representantes de las poblaciones cercanas al reservorio aurífero Las Cristinas y del Sindicato de la Construcción (Sutic), cerrarán la carretera internacional Troncal 10 como medida de presión para que se agilicen los trámites ante el Ministerio del Ambiente y los Recursos Naturales Renovables (MARN) para el otorgamiento de los permisos de construcción de la mina y la planta que operará Crystallex International Corporation.

En este sentido 26 líderes comunitarios y sindicales se presentaron el pasado jueves en la sede de la CVG para solicitar, mediante comunicación escrita, una reunión con el ministro Álvarez, de la que aún esperan respuesta.

“Nos atendió el director ejecutivo de CVG y nos dijo que esta misma semana recibiríamos respuesta y que no se comprometía que la reunión fuera, como habíamos solicitado”, informó Pablo Martínez, secretario de organización de la seccional Roscio-Sifontes-Gran Sabana del Sindicato Único de los Trabajadores de la Industria de la Construcción del estado Bolívar (Sutic-Bolívar).

Por su parte Marlene Vargas, alcaldesa del Municipio Sifontes, recordó que en el encuentro que había sostenido con la ministra del Ambiente, Jacqueline Farías, quedó el compromiso que en un lapso de 90 días se entregarían los permisos para comenzar los trabajos de construcción del Proyecto Las Cristinas. No obstante observó que eso era demasiado tiempo porque los trabajos comenzarían con la entrada del período de lluvias y por lo tanto eso significaba más atrasos en el proyecto, sobre todo en momentos que la gente del Municipio Sifontes está esperando por los puestos de trabajo que generarían las obras civiles del Proyecto Las Cristinas.

mehr:

hxxp://www.eldiariodeguayana.com.ve/content/view/13757/34/  

Crystallex stock jumps on pending permit reports
Wed Mar 2, 2005 10:47 AM ET
(Amounts in U.S. dollars unless noted)

VANCOUVER, British Columbia , March 2 (Reuters) - Shares in Crystallex International Corp. (KRY.TO) jumped 8 percent on Wednesday morning on Venezuelan newspaper reports that the gold mine will get its final permit within the next 60 to 90 days.

Todd Bruce, Crystallex's chief executive, told delegates at a BMO Nesbitt Burns resources conference on Tuesday, of three recent stories in the Venezuelan press that said the government would soon issue the last license for the Las Cristinas mine, a development that removes a major risk hurdle for the company.

mehr:

hxxp://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?dui­d=mtfh91041_2005-03-02_15-47-31_n02448002_newsml  

Crystallex Speculation Rises on Final Mile for Cristinas
By Tim Wood
02 Mar 2005 at 07:52 PM EST

NEW YORK (ResourceInvestor.com) -- Crystallex [KRY] tripped easily through several development milestones last year at its Las Cristinas gold project in Venezuela, laying to rest a number of risk demons that had haunted the stock price.

The process was spooked late in the year though as a crucial final permit remained a phantom, exacerbated by the Venezuelan cabinet being reshuffled. Adding to the drama, the original Energy & Mining Ministry was split, and the Basic Industry and Mining Ministry now administers domestic mining projects.

A lot of the uncertainty was lifted this week when Venezuelan media outlets reported that Marlene Vargas, mayoress of the Sifontes municipality that incorporates Cristinas, put a 90-day timeline on issuance of the permit that will allow ground-breaking. She had met with national and regional officials to dust off the permitting process which is delaying much needed cash flows into the district.

The market warmed to the news which was spread broadly before the close of trade yesterday. However, it only impacted trading desks this morning after Crystallex's chief executive Todd Bruce addressed the BMO Nesbitt Burns Global Resources Conference after the close of trade yesterday, informing the qualified audience of the good news.

mehr:

hxxp://www.resourceinvestor.com/pebble.asp?relid=8505  

Crystallex says Venezuela targets permit by June 1
Tue Mar 8, 2005 01:40 PM ET
(Amounts in U.S. dollars)

By Nicole Mordant

TORONTO, March 8 (Reuters) - Venezuela's government expects to issue Crystallex International Corp.'s (KRY.TO) environmental permit by about June 1, the gold miner's chief executive said on Tuesday, the last piece of paper the company needs to develop one of the world's biggest gold deposits.

mehr:

hxxp://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?dui­d=mtfh03179_2005-03-08_18-40-27_n08180023_newsml  

Disinformation Blights Venezuela Gold Projects

By Tim Wood
17 May 2005 at 09:25 PM EDT

NEW YORK (ResourceInvestor.com) -- Stockholders in Gold Reserve [GRZ] and Crystallex [KRY] are grappling with a fresh torrent of news and disinformation surrounding the companies’ adjoining gold projects in Venezuela. Crystallex is speeding toward an informal June deadline for the issue of a critical permit from the Ministry of the Atmosphere and Natural Resources (MARN) that is delaying construction of the Las Cristinas mine.

http://www.resourceinvestor.com/pebble.asp?relid=9808  

Venezuela: Crystallex gold mine permit 'on track'

http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=8691806  

Ground-breaking imminent at Las Cristinas gold deposit

http://www.resourceinvestor.com/pebble.asp?relid=10307