I agree this market is not overjoyed with this lets take you points one at a time.
They gave 2/3 of the project away. True but we were to going to need investment to build the mine anyway. Estimated cost 1 bill. We now have that investor. Sure we would have prefered to take it on as debt, but honestly who was going to loan us the money. What we need more than anything was the permit, from what I read this is primarly what CRRC is bringing to the table imoney and the permit.
We still have to pay our share of development costs out of future cash flow. Why wouldnt we have to pay our share and we get to do it with post operation dollars that mean no need to ask for more money.
We still owe 100 million dollars to the note holders. Everything I read says CRRC is eating this for us. We now have zero debt. "CRRC will assist Crystallex to retire the outstanding noteholders' obligations"
There will be more dilution as the Chinese can go up to 19.9% ownership buying at $0.40 per share. You mean our new bottom is .40 thats great for the people that bought at .15.
And after all that we are still stuck with the VZ mining law which means we can't make any money anyway. (take a look at RML) My understanding is since V is the majority owner of Las Cristinas 100% we get the perfered rate. RML is fighting for its none jv assets currently.
