posted on
Oct 31, 2010 05:35PM

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

Message: Re: Q3
It's 4 months since we had $31 million. The math don't work for us to have $25 million (and I wish like hell we did).
Sure it does, the note interest is a little under $5 million and attorney's fees are probably around $2 million tops, much of which was probably already paid for work on the deal prior to the announcement -- and time spent waiting for a reply is not a billable fee.
We have plenty of cash until at least mid year 2011.
As far as a financing -- not going to happen as long as we are in this deal.
Section 6(b) of the Primary Binding Agreement provides that Crystallex "shall not" . . . "enter into an agreement in respect of or complete a financing of equity securities (or securities convertible, exercisable or exchangeable into equity securities) in excess of $50 million."
Since the recent financing takes us close to the limit, we can't do any further financing deals.
7 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply