OUCH! No Tenor-Crystallex Support for Committee
posted on
Jan 11, 2016 02:42PM
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
So, along with numerous other reasons there is no need for a committee, Crystallex' position is that paying for the notice would send them into DIP default. But KRY freely spends to negate the motion. Just another slap in shareholders face by Tenor-Crystallex.
Question - Why did the committee not disclose that the Dec 23 motion of the moving parties was adjorned, and that the committee would resolve issues learned Dec 23, and try again? Would think they would be completely open of their actions to obtain shareholder good will.
At least the committee is doing something, but not looking like a good start.