So Venezuela finally stepped in and took Las Cristinas...what a shame. Can and should we expect any different though? Honestly, this is a disgrace and all that, but who didn't see something to this effect coming a mile away? Investors poured millions and millions into this project and in turn developed one of the largest gold deposits in South America while Chavez stood back and waited and waited. Once it was clear Crystallex had done all the necessary work and they couldn't keep on making excuses for not letting them start mining, (Remember all the BS about the national forest and the mine would never open, the environment comes first crap?) they sweep in and steal 17 million ounces.
And I don't care how you put it or what "deal" Crystallex takes, this deposit is STOLEN. You thought Kinross stole Fruite Del Norte? HA! The worst part is this will stay in courts for years and years and people will continue to keep hoping KRY can maybe possibly win it back. They won't.
It's over.
When you invest in areas such as Venezuela, be prepared to lose all your money in an instant. In fact, I wouldn't rule out the chance that not only will you lose your money, but someone will break into your house and steal your TV...yeah, it's that risky.
Invest in Canada, you can't trust the rest of the world, plain and simple.
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