investor101a
You are entitled to your opinion. I respect that. I do however have to voice the complete opposite opinion to yours.
Crystallex has struggled for countless years to get to this stage, to keep its' MOC compliant and valid in a hostile environment. How does one expect the 100's of millions for the mine to be raised without dilution or additional debt?
My belief is that I will look back at this in 12 months and wonder what all the fuss is about.
A stop-loss is in effect, that price would be the Chinese investment at 40 cents Canadian.
Giving-up 2/3 of the asset, and an additional max 19.9 % dilution to get 33 % of the gravy train that will become Las Cristinas is well worth it. What will that revenue stream be valued at $ 1240/1650/2000/5000 per oz gold when it comes on stream when we no longer shoulder the burden of Venezuelan operations, with reduced staff, no noteholders?
Please see the bigger picture.
The Chinese haven't put together some quick/simple deal with Crystallex. This has been in the making for a while. These type of deals don't happen overnight. Everything and I mean everything would be run by the Venezuelan's well in advance - that includes the permit, the BCV gold sales rule, labor issues, import equipment permits etc. Everything is step by step - work out a deal, get Venezuelan approval, make announcement, get permit, pay-off noteholders, get new capital etc etc.
How anyone can see this as a negative is beyond me.
I sold my 45,000 GRZ at 99 cents Canadian and purchased more KRY.
As luck would have it my average is the same as Chinese investor.
I will hold now for another 12 months - at which time I hope to see min. $ 5 per share.
KRY's days are just beginning. I would suggest seeing beyond today's machinations in stock price and look to the bigger picture. What perfect timing for Hugo, what perfect timing that the Chinese are onboard. What else can KRY look at now down the road once we get this deal done?
Pour yourself a nice tall drink, re-read the pr and try and envision what this could look like. Those poor, starving, mistreated Venezuelans will have the opportunity to work and progress in life. Hugo ain't messing with the Chinese on this one - a publically traded Chinese company owned by the Chinese State.
Cheers
Teutracker
