Dear Ned,
We continue to be advised that CREC/CRRC remains eager to complete the
transaction and that recent meetings with Venezuela regarding the Las
Cristinas Project, permitting and development under the Crystallex MOC
were encouraging. The Company follows more closely Venezuelan
Government actions and what is said in discussions/face to face meetings
with Senior Government Officials more than the press and blog coverage.
Ultimately the success of the transaction, permitting and advancement of
Las Cristinas remains in the Venezuelan's hands and Crystallex and
CREC/CRRC are doing what they can to speed up their actions.
Hopefully, we'll be through this current phase and into the next phase
of the transaction (visible with the setting of a Record date, setting a
mailing date and a Special Shareholder Meeting date) shortly. The
transaction outlined in the Primary Binding Agreement is significant and
far more complex than a regular corporate transaction due to government
involvement. As updated in the recent MD&A filings, the Company, based
on guidance from counsel and parties involved in transaction, expects
the deal to close in Q4, 2010.
We continue to be advised that both China and Venezuela support the
transaction and advancement of the Project.
Best regards,
Andrea Boltz
Crystallex International Corporation
