Welcome to the Crystallex HUB on AGORACOM

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: IMHO Chavez had too many drinks yesterday

almost forgot...before the russian lovers start with their "but rusoro is a powerhouse..bla blah blah..they have lots of money..."

from rusoro's 10q (lots of other goodies in there too)...after reading this maybe someone could explain how rusoro could swing $100mil in equipment (never mind the waiting period) and start up costs..venezuela cant even pay their govt employees...so how the f' is anyone "taking back" anything....

During the three months ended June 30, 2008, the Company sold 36,343 ounces of gold for a total amount of revenue of $23.2 million. Net loss for the three months ended June 30, 2008 was $36.8 million, which includes non-cash expenses such as amortization of $10.8 million, stock based compensation of $18.4 million and an impairment adjustment of $1.6 million to write down gold inventories to net realizable value.

Net cash used in operating activities during the three months period ended June 30, 2008 was $6.8 million, cash generated in financing activities was $76.4 million and cash used in investing activities amounted $18.7 million. As at June 30, 2008 the Company had a cash position of $62.5 million to be used to finalize the funding of the Hecla-Venezuela Acquisition and for corporate development projects.

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