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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: Options

Re: Options

posted on Oct 26, 2008 07:06AM

I haven't posted for a long time as I've had nothing to contribute; I've just been watching and swearing. I sold a bunch more and then bought back a bunch around 50. I'm back over 100,000 shares. I know these guys for a long time and several points need to be mentioned.

1. When the stock originally crashed in 1998, they repriced their options so they had no realized loss - unlike many of the shareholders.

2. I fully anticipate them trying to do the same with all of their current options. Either that or take advantage of the proposed right to change the expiration dates--- 10 years!!!!

3. If you get 0.48 options, they've gone up in value by 100% at .96.

4. We're not all in this together, (mangement and shareholders), as they are asking for risk free rewards.

I just came by to say, I'm voting 'NO-NO-NO-NO".

I do have one thought and question. Is it necessary for someone to go to the meeting and "ask for a recorded vote"? This is a clear shareholders' right; if nothing else, they then have to publish the actual results of the vote. I'm not sure how the process is monitored if such a request isn't made.

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Oct 26, 2008 07:42AM
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Oct 26, 2008 11:01AM
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