Why would you want to cast doubt upon Crystallex's relationship with CREC/CRRC?
"They are patient and can wait it out". China wait out what? An arbitration case? Why would they do that when they can structure a deal with Venezuela and remove an arbitration case for Venezuela by buying out Crystallex at a dollar level that saves a potentially multi billion dollar ruling against Venezuela? "Wait it out", and what maybe the price of gold falls?
Now is the time that China is structuring their various natural resource deals with Venezuela around their oil deals! Should they wait that out as well, maybe the price of oil will fall and they can structure a better deal later? Honestly! Yes, the proposed deal with Venezuela required CREC/CRRC obtaining the permit. That aspect they didn't succeed at so are you now saying China's discussions with Venezuela continue around the permit when Crystallex is closing-up shop in Venezuela and continuing efforts via the arbitration route? China wants access to the gold and want a deal. Does this mean that Crystallex has no value to China anymore? I think such rationale doesn't make sense because the primary Binding Agreement is still in place. Take a look at the 'post period' provisions. China isn't going to dump Crystallex, turn around and do a deal with Venezuela. Look at the legal consequences pertaining to the Agreement. Look at the bigger macro-picture of China doing deals in Canada. China isn't going to let a state run entity conduct business in such a manner. China isn't going to commit financing to a project that has a high profile legal problem attached to it. No, my opinion rests with the relationship Bob Fung has with the Chinese, the need for CREC/CRRC to work through this legal situation by resolving the matter with Crystallex and to put together a JV between CREC/CRRC and Venezuela.
There are many covert ways of assisting Crystallex before such a deal gets brokered. One may very well be the purchase of mine site specific mining equipment through a 3rd party. Equipment could even remain at current location but ownership held by a 3rd party with storage costs taken on by the 3rd party. Cashflow could then be used by Crystallex in many ways while a deal gets negotiated.
I'm not sure I understand your comments regarding the Chinese and Vanessa or Placer Dome? The Chinese didn't have an agreement or relationship with these companies at the time?
Vet, you seem like a nice guy but I never could understand why many of your posts always end up casting doubt on Crystallex?
Ask Doug B at GRZ what he thinks of Chinese involvement in Venezuelan gold mining. I think you might be surprised by what he has to say.
Cheers
Teutracker
