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

Free
Message: One Explanation for the GRZ rise...

One Explanation for the GRZ rise...

posted on Sep 17, 2009 08:13PM

has nothing to do with Venezuela..

GRZ has a brand new 35k tpd mill paid for and ready for delivery worth in the region of $40 million. They had 2 on order for Brisas and sold one and kept second one. They also have some other sundry mining equipment, trucks, earth moving etc. but none of that is hard to get now (it was hard to find a couple of years ago). They also have around $100 million in cash and they have been actively looking to do a friendly deal with someone with a deposit ready to go.

While the cash is handy, it isn't critical as finance is getting easier but with $1000+ gold prices time is everything, and a deal that bought cash and a ready to deliver mill would be quite attractive to many smaller miners who are in the development stage.

These deals always take time and somebody always gets some advance notice. So look for a PR in a couple of weeks or less.

KRY also has equipment but I really don't know just how complete their milling equipment is and without cash to move it and set it up it may not be an attractive deal. I had the impresson it was more of a collection of critical parts rather than a complete purpose built mill. This may explain the diference.. Just speculation on my part, don't take any of this as anything else.....

Share
New Message
Please login to post a reply