Crystallex International

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Re Primary Binding Agreement

over 13 years ago

it is my understanding that neither party has terminated nor taken steps to terminate the Primary Binding Agreement.

If China obtains all necessary documents required to open and operte the mine, what is KRY's position since they no longer have the MOC, and no legal interest in the mine.?

I don't understand how we continue with a Primary Binding Agreement when we can no longer perform our obligations under the Agreement. How can KRY give the CREC/CRRC two thirds of what we no longer have.

How does this affect any of KRY's potential settlement or buy out, orICSID award?

IMO, I think KRY should formally terminate the Agreement and get on with the Arbitration case without Chinese involvement.

I would appreciate replies to this situation from our man excellent posters. TIA.

Vlada