Re: Why the 35M$ financing ? zwizric
in response to
by
posted on
Jun 10, 2010 07:33PM
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
The exciting part about the deal with them is that CR has tons of money, influence, and is the largest construction company on the planet -- BUT they have zero mining experience. Highly symbiotic.
All of the above plus experience working in VZ. (actually both have experience) I can't say that I fully understand the true valuation of KRY in light of the new JV partnership, but it must be worth a higher mulitple then what is currently displayed. The overhead just needs to work through the system (ie. a fully subscribed financing which I am under the impression will happen fairly quickly) and when that is announced there should be new vigar in SP performance. Then should we are able to advance the project via receipt of the environmental permit then this remarkable project will (not should) show a valuation more reflective to the value the deposit. Why do you think CR, with no experience in mining is a JV partner; show me the money. This is where I am now attempting to figure that out. RM has indicated that we will now see more analysis coverage on KRY and we are seeing an increase in "initiating coverage" underway. Patience is a virtue so they so. Better then what it was just a short couple of months ago. Fingers crossed!