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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Re: Exchange rates

Nov 15, 2007 05:44PM

2150 divided by 6000 equals 35.8%

Given the fact that the black market exchange rate is the "real" rate of exchange...my simplistic calculation indicates that KRY is only making 35.8% of what they should be making if the currency market wasn't fixed by the VZ govenment. I can't believe KRY management is stupid\lazy to the point that this concept is lost on them. Either that calculation is overly simplistic and uninformed (please somebody with better background in this area respond with explanation to clear up my confusion) or there is a political reason why KRY can't "register" to avoid that currency exchange restriction (or are somehow limited by the amount they can 'register')....either a legal restriction or unspoken political restriction which would "only make matters worse" with respect to permit prospects\corporate relations (similar to the downside of halting investment in all social programs until the permit is granted). Somebody help me out here.

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