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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: Fung's Bonus ..... $150,000
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Jan 21, 2012 11:50AM
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Jan 22, 2012 11:09PM

Since you are so concerned about RF having received a bonus but have no idea whatsoever why he took it, why not email or call him and find out the reason before you condemn him? He is accessible. I have my own criticisms of management but they are baseds upon facts. Sure I would have liked all of management to have been heavy buyers of shares in the open market, sure I would have liked RM's and others' salaries to have been significantly lower, but the company also took steps to reduce its expenses, such as moving into much less expensive office space. Have you or anyone else mentioned the things that RF did (that maybe no one else could have done), such as raising 100 million dollars to keep the company afloat in a ridiculously bad economy, wowing the Chinese into becoming partners, making numerous, if not dozens of trips to Vz. to personally speak with officials (something not many CEOs would have personally done). and so on. On balance, I think RF earned his salary and bonuses. His life during this time was turned around. I know this from having talked to him and others. You have also criticized his decison to wait so long to file for arbitration when there were many valid reasons to do so, which you later recognized. Furthermore, what is done is done. If you disagee with any current decisions, then write to the judge as a shareholder and let him know or, as I say, call or email RF and ask him why he did what he did. Now is the time, if you have lost money, to focus on other things, such as determining the pluses and minuses of buying shares at the current levels to make up for your losses, what affect that paying off the noteholders will have on the SP, etc. History is history and there are so many positive things to discuss now that might lead somewherer whereas beating a deadhorse to death will solve no problems.

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Jan 23, 2012 03:30PM
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