Crystallex won't mine Cristinas, Bishop says

new.stockwatch.com 2003-01-27 18:10 PT - Street Wire by Stockwatch Business Reporter

Letter writer Robert Bishop, perhaps more philosophical given the years that have passed since his strong support (and lavish coverage) of Crystallex International in 1997 and 1998, says he cannot go to an investor conference without getting a question about the one-time high-flying court case promotion.

"I wonder why," he said dryly.

Mr. Bishop recommended Crystallex International in August, 1997, at $5.60 largely on the basis of what he viewed as Crystallex's strong legal claim to mineral rights at the gold-rich Las Cristinas 4 and 6 concessions.

The stock peaked in March, 1998, at $11.85 intraday.

In June, 1998, Mr. Bishop expressed shock and dismay when the Venezuelan supreme court threw out Crystallex's administrative-based application, with the country's chief justice writing that the then-Vancouver-based junior not only had no case, but that it had no legal standing to bring forward a complaint in the first place.

Mr. Bishop's support for Crystallex extended to his June 10 Fax-Alert, issued just as the stock went into free fall from the $6 level to the $1 level, "A suitcase full of money can solve a lot of problems in a lot of countries around the world, and Venezuela certainly used to be, and in many respects, may still be on the list." He later said that his comment was not meant as a veiled reference to the courts having been bribed.