Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

*** Gold related post (KRY) ***

nspolar
In the event you haven't seen this.....

Supreme Court confirms Vannessa's legal standing in Las Cristinas
Monday June 23, 12:01 am ET

TSX: VVV OTC-BB: VNVNF
SEC File: 12G3-2(b) No. 82-4473; 20-F 000-30462 Berlin: VVT - WKN 914781

VANCOUVER, June 23 /PRNewswire-FirstCall/ - Vannessa Ventures Ltd. (VVV: TSX, OTC-BB: VNVNF, Berlin: VVT - WKN 914781) announces that the Venezuelan Supreme Court has ordered an inspection of Las Cristinas on MINCA's request and has admitted MINCA's evidence against unilateral cancellation of the mining contract.

The Venezuelan Supreme court confirmed MINCA's legal standing in the conflict over the Las Cristinas Mining Rights when it ruled, on June 17, 2003, as inadmissible an objection filed by the CVG against a request by MINCA, that the court should carry out a juridical inspection of the Las Cristinas concession. The inspection will serve to provide evidence as to the damage done to the Las Cristinas infrastructure and property after the CVG takeover, during which the CVG/Crystallex administration of the property allowed the invasion by over a thousand small scale miners into the area who are using hundreds of hydraulic pumps to remove large quantities of surface gold.

MINCA has initiated a juridical inspection, supported by independent expert evaluators, to record the quality and condition of the Las Cristinas infrastructure and assets three days prior to the confiscation of those assets by the CVG in November, 2001. The CVG argued in its objection that MINCA had no right to request such an inspection since it had no further interest in the Las Cristinas Concession. The Supreme Court disagreed and, in addition to ordering the juridical inspection, approved all evidence as pertinent to MINCA's legal case against the unilateral cancellation of the contract by the CVG.

The Supreme Court also ordered that the State Defender's Office be notified that the nullity action regarding the CVG/MINCA Contract is proceeding and that the Court has ordered an official juridical inspection of the Las Cristinas concession.

A positive ruling for MINCA would reverse the effects of the CVG cancelling the MINCA/CVG Las Cristinas contract, restore the legal ownership of the over 11 million oz. gold deposit to MINCA/VANNESSA and invalidate any subsequent agreements concerning the property which were entered into by the CVG.

Should the CVG at that point have any claims against MINCA they will have to be addressed under arbitration as stipulated in the CVG/MINCA contract and as supported by a 2002 Supreme Court ruling which confirmed that any conflict involving the CVG/MINCA Agreement requires settlement under the terms of the contract which specifies arbitration as the exclusive and definite mechanism to resolve such conflicts.

Investigation by the National Assembly

CVG Press Releases claim that the investigation by the sub-commission of the Las Cristinas/CVG/Crystallex/MINCA affair has been completed and has ended in support for the CVG are misleading. When the official eight month investigation, carried out by a sub-commission of the Controller's Commission of the Venezuelan National Assembly, requested the cancellation of the CVG/CRYSTALLEX contract, a Venezuelan Congressman and strong supporter of the CVG/CRYSTALLEX relationship, Sr. Luis Velasques Alvaray, managed by political means to replace several commission members, suppress the official investigation by tabling his own report. He declared to the press on May 27, 2003, that his report was approved by all members of the Controller's Commission of the National Assembly and that the investigation was completed and closed. Several members of Congress, as well as the President of the Official Investigating Commission have objected to the replacement document which was not sanctioned by Congress and did not deal with irregularities in the CVG/Crystallex contract. Discussions are ongoing.

MINCA for its part is requesting that the Attorney General's Office investigate the Velasques Alvaray/CVG report for irregularities since its content is damaging to MINCA due to false and misrepresented information. Sr. Alvaray presented a report in October, 2001, which was produced without the participation of MINCA, did not meet the requirements and criteria for a Congressional Report, and was, therefore, annulled by Congress.

Vannessa is committed to defending its interest in the Las Cristinas Project and is confident that justice will prevail.

For further information please see www.vannessa.com, www.minca.com.ve or call 1-888-339-6339.

http://biz.yahoo.com/prnews/030623/to130_1.html

regards,
Dan