Crystallex International

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Hope but with a concern

over 13 years ago

in response to auntierooski's message

I'm just as hopeful as anyone else (since I still own 300K) that we'll finally get some good news today!

But I have a concern:

The bond holders tried to call the bond early by claiming KRY had lost control of Las Cristinas and the MOC. They failed in court because KRY was able to prove they had not received any "official" word, beyond the rejected permit, that they had lost control of LC or that they had zero chance of mining LC. They were able to prove all the talk about KRY losing control of LC was in the press and nothing official ever came from Chavez.

I'm concerned that now Chavez has officially told them KRY (nor a JV with China) will never mine LC and that this knowledge has gotten to the bondholders or will be known soon.

If that was the case then the bondholders would try to call the bond early: 100 million bucks.

KRY can't pay the bondholders AND fund arbitration.

This is my concern.

As I said, I hope I'm worried about nothing but do you think my concern is valid?

Cividale