Re: AGM made public
in response to
by
posted on
Jun 12, 2010 12:33PM
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 AGM is generally online (in the years when there's been promising news) but audio only. Infortunately the real good stuff....the questions and answer session....has never been included in that audio broadcast online. The turn off the mics.
Normally a few days before the AGM a link is posted on the KRY website to listen online or a number to call on the phone to listen in.
After the AGM some forum member usually posts a link to the audio file.
I would expect this set up to hold true this year as well.
After having attended a few AGM meetings myself, and after having some private conversations with Fung, don't expect him to sound too excited about this deal. He'll explain everything he's legally allowed to say but without any bravado or excitement. He'll tell you of the hard work it took to get here. How great the deal is....etc. He'll tell you how pleased they all are about this deal and the promise of the future....plus some of the obstacles of the future and how KRY is still being undervalued by the market and public financial pundits.
But beyond that.....and maybe even a smile.....Fung won't be very effusive in his demeanor. He's a very understated speaker and rather dull guy.
We may all wish that he appears on TV (BNN, CNBC, etc) but he's a cold fish who wouldn't bring us much on screen. Richard Marshall is much better at that kind of thing. Todd Bruce was pretty good. Marc Oppenheimer was the best but he also came across as a snake oil salesman.
Again I would not see any skyrockets after the AGM unless it came with reports on new reserves, possible inclusion of Las Brisas, public statements of support by the Vennies or the Chinese, or report about a permit.
I'd expect in the days just leading up to the AGM we may see a slight rise into the .60's.
Nut we may even get a small drop in the pps after the AGM but not much....mostly because of perception. If most people are expecting big news out of the AGM, and it doesn't come, the stock will actually drop.
Much in the same way the stock dropped after last Monday's JV announcement.
Although I agree the private placement hurt us (as it has done in the past- because it's seen as a lifeline attached to a low share price) I still think the stock dropped because the big money people were not hoping for the JV which would just extend KRY's involvement in Hugoland, but instead they were hoping for a buyout that would settle KRY's debts, and give KRY some new operating cash so that KRY could continue to live a few more years while it looked for gold mines in other parts of the world where Hugo has no influence.
Cividale