Re: update
in response to
by
posted on
Oct 13, 2012 03:31PM
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
good post jc---you ask good questions. I think its pretty clear in my post when I went from giving an update to expressing my opinions (ie. when I state "I personally think"). And nobody should act on my opinions because I am 3 for 82 in predictions in this matter. However, despite my poor track record, I still have my opinions and will offer them as food for thought. I think the bondies are a snake that has been defanged. But they still look, act and think as a snake. I note that the bondies have sacked their old law firm, (or maybe the law firm just quit) which is oft times a sign that your legal strategy is in shambles. Just because KRY can't reach a deal with the bondies doesn't mean that they will be kicked out of CCAA. Quite the contrary, if the courts think KRY is acting fair and reasonable, they will allow KRY to have the protection of CCAA until they are able to solve their financial situation. I believe the Judge in this matter feels that because of recent court decisions (ie.--the defanging of the snake), it is a good time to try and bring the 2 warring parties together to solve this fight. I don't believe the snake will ever be reasonable without pressure from the judge. I believe the judge is in a position to exert a great deal of pressure. Who knows, maybe he can use the allegations of breech of confideniality by the bondies as a pressure point? As for the stock price, it may well go down in the immediate future because I think the recent rise was a bet on Chavez losing and that KRY could reach an agreement with the bondies. Neither of those two events have happened. But, long term, I think KRY is standing on the high ground.