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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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Message: Re: Just great...
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Jul 20, 2010 08:43AM
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Jul 20, 2010 10:48AM

One point: we all said we had an iron clad MOC for LC a year ago and VZ couldn't touch that. That was for 100% of LC. Now we have an iron clad agreement for 1/3 of LC. So don't say it can't be taken away. As Hugo has proved, a chunk of it can be taken away by stalling and playing games. China has stepped in and inherited 2/3 of this project. Don't get me wrong, I'm thrilled they did or else we would have been left with nothing. But we sacrificed a good deal.

I don't know if anyone has asked this question. I'm sure Fung did. But would an arbitration award for 100% of LC which would include lost profits based on high gold prices be worth more than 1/3 of an actual producing mine? Hmmmm.

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