China doesn't have 2/3rds right now. They have/had the ability to get a 2/3rd stake by securing the permit and financing everything once the JV was completed including a cash injection into Kry by purchasing shares.
JJ....I understand the situation. I was responding to Tracker's pie-in-the-sky $5\share buyout dream. My point is that CRRC must be extremely motivated to get that JV completed in keeping with the binding agreement. I must admit that Fung has played the hand that was dealt him quite well.
The Chinese are famous for being shrewd, formadible negotiators. There is more than a little entertainment value in watching how Fung has (apparently) turned over the negotiating task to the Chinese. His attitute seems akin to unleashing the hounds on a fresh kill. His orders to the mad Chinese attack dogs: "get me my bottom line or I go the arbitration route and you get nothing".
The imbeciles at the CVG thought they would pull a shrewd move by cancelling the MOC....as if we care at this point. That just bolsters our arbitration case.
Some people have questioned whether China even cares or is still involved at this point. I know if I was China I would have my teeth sunk deep into the CVG's calf and wouldn't let go until a deal was done one way of the other.
I'm surprised that no one has picked up on the wording of the last PR:
Crystallex seeks the restitution by Venezuela of Crystallex's investments, including the MOC, and the issuance of the Permit and compensation for interim losses suffered, or, alternatively full compensation for the value of its investment in an amount in excess of US$3.8 billion.
Notice the underlined passage. That is a new "demand" as far as I can tell. During negotiations, what do you do when you've already presented your bottom line (and you absolutely, positively cannot give any more without giving away the store) and the other side still doesn't get it? Simple...you raise the stakes by ADDING a demand. This makes your point and allows negotiations to continue....allows you to forgive the new demand while allowing the other side to save face.
Personally I hope this ends in a buyout. My hat will be off to Mr. Fung if he can get us anything over one dollar given the situation. I'm hoping we get a buyout before April 1st. If we don't, then I think it is many years waiting for any kind of arbitration award.
