Re: Article from 2007 Khan/KRY
in response to
by
posted on
Apr 07, 2010 10:22AM
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
They are already in control and they already own the mine 100%.
I am of the belief, VZ will want 100% profits on at least 51% of the gold production and in addition, they will want 40% (taxes and royalties) of the KRY's 49% share. That's a significant amount more than what they would get now.
VZ doesn't give a rat's behind about the noteholders and KRY's issues. They want 51% control of the profits of LC. If that causes concerns with the noteholders, well, that's our problem to work through. The noteholders issue isn't going to force VZ to change what they want.