Re: KRY AMEX, Last Hour
in response to
by
posted on
Mar 08, 2011 08:10PM
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
No....I'm still in...still "hoping" Fung manages a deal. If he doesn't and we wind up going full term thru arbitration (assuming we find financing)...then Fung made a big mistake by trusting Venezuela. We'd be in a much better position right now if Fung had filed for arbitration when the permit was denied subsequent to paying bond & taxes. We've gained nothing by waiting in terms of the cost basis of gold....the arb award is still based on the price of gold on the date that we notified Vz. of a problem. We should have cut to the chase and filed at that point.
Instead of now being months away from an arbitration decision....we're now waiting on the edge of our seats to see if Fung can avoid bankruptcy and find financing without dilution to oblivion to see us thru to an arb decision years down the road.
The only outcome, at this point, that will vindicate Fung is a deal of one dollar or more announced prior to the annual shareholders meeting.