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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 23, 2012 01:25PM
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Jan 23, 2012 03:30PM
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Jan 23, 2012 04:10PM

JJ, Sorry if I mistook you for someone else with regard to criticizing RF fo delaying the filng of the demand for arbitration.

As to RF's bonus, I don't think criticism is justified until you know why he took it. You forget that he may have raised 120 mil in this market to pay off the noteholders. If true, that is worth his bonus times 10. Who else could have done that in this market? Did he not have a soft committment for the full 120 mil per his affidavit and allegedly filed for CCAA protection only because the lead investor, who was going to contribute 50 mil, wanted court approval to be protected from litigation? And, cantjustread, when you said "to my knowledge fung hasn't raised dick", you obvioulsy forgot the paltry 100 mil he got from the noteholders?

In summary, Fung has raised 100 mil already for a mining company in Venezuela and had a committment for another 120 mil to pay off the noteholders and for working capital to finance an arbitration where the chance of success and collectionion is nowhere guaranteed. In my book, raising, 220 mil for a jr. mining company in Venezuela and under the hurdles that the company faced is nothing short of miraculous. I have been more critical in the past of RF than almost anyone who has posted on this or any other blog but always based upon hard facts. When credit is due, however, I will give my kudos.

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Jan 24, 2012 12:53AM
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Jan 24, 2012 03:22PM
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