Todd Bruce, President and CEO of Crystallex International Talks to The Wall Street Transcript
Posted on: Monday, 26 June 2006, 09:00 CDT
The Wall Street Transcript has published an in-depth interview with Todd Bruce, President and CEO of Crystallex International (AMEX:KRY) (TSX:KRY) in which he talks at length about the Company.
The entire 2,500 word interview is available free online at http://www.twst.com/ceos.htm.
Crystallex International Corporation is a Canadian based gold producer with significant operations and exploration properties in Venezuela. The Company's principal asset is the Las Cristinas property in Bolivar State that is currently under development and which is expected to commence commercial gold production in 2008 at an initial annualized rate of some 300,000 ounces.
When asked about the company's priorities over the next 12 months Mr. Bruce stated, "The immediate priority is the receipt of the final environmental permit. As soon as we get that, the project commences, and the agenda for the next 12 months is to advance the construction stage of the project through the current design schedule so that we can be on track to producing commercial gold production about 20 to 22 months after we receive the permit."
Regarding the company's long term strategy Mr. Bruce stated, "If we look at the Las Cristinas Project, in 2008 on an annualized basis, we could be looking at an operation producing 300,000 ounces a year. So that represents a six-fold increase in our gold production output over the next two to three years, which is obviously a very radical increase. But, over and above that, our operating cost will also drop down to somewhere around that $160 per ounce level. So the generation of cash flow and profits is going to go up by a much bigger multiple than that six-fold increase in production because our unit cost will have declined so dramatically."
The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations. For subscription information call 800/246-7673.
Source: Business Wire
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