Rusoro

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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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Rusoro

posted on Dec 30, 2008 02:46PM

GRZ management have completed their DD and provided shareholders with a thorough examination of Rusoro's offer. It is difficult to see how Rusoro can now succeed in obtaining 66 2/3 % by Jan.21 or why insitutional GRZ shareholders would be motivated to tender their shares. Rusoro will have no choice now but to withdraw their offer once it becomes clear over the next 2 weeks that they will be unable to obtain sufficient share percentage to extend the offer beyond Jan.21.

So what's next? Will Rusoro run-out of cash before they can bring-on additional production? Will Peter Hambro make a move for Rusoro's collateralized Choco asset? Is this the end of the 'partner of choice'? Stay tuned! GRZ and KRY may still yet get their permits!