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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Dissapointed in Bill Cara

Dissapointed in Bill Cara

posted on May 13, 2008 04:21AM

The following are two posts from Bill Cara's Blog along with his replys (replys are in bold italics). Although I like Bill Cara and relied on his initial recommendation of KRY...I find his change of opinion and latest comments self-serving. He keeps characterizing current KRY management as inept 'stock promoters' who can't get the job done.... likening mangement to a jockey and the asset (M.O.A. for Las Cristinas) as the horse. He insists that the jockey is more important than the horse. Funny he should use that analogy. Last weekends Financial Sense audio had an interview with a gold expert (John Doody or someone else...I can't recall) who used the same analogy...but insisted that the horse was more important than the jockey in a junior gold play. Well our horse is certainly strong enough to carry a jockey that's eaten one or two too many creme cheese bagels prior to the race. At this late date...Cara is flagging the fact that it all seems to be up to Hugo as to what the final disposition of KRY will be. So what is it Bill....bad management or country risk? Wasn't the country risk always there? Wasn't Chavez in power when you named KRY your stock of the year? Oh...and one other thing....about bad management (i.e. fat 'stock promoting' jockeys)....are we to believe that Gold Reserve and Hecla also have mentally and ethically challenged management teams? After all....they are in the same boat more or less. It seems to me that this is a classic case of 20-20 hindsight. At this point, I'll take the 24\7\365 DD that is posted on this board over any 'off-the-cuff' comment from Mr. Cara. He is, relatively speaking, "out of the loop" in terms of researching this stock. Yes Bill...Hugo is a wildcard...DUH!

Does anyone here still own/plan to buy some KRY? It should make for a good daytrade at least, though I don't have the titanium to hold into Chavez' decision. It would be just like a 3rd world country to manipulate the stock down to 50 cents so that government insiders can buy buy buy the whole company only to approve their mine. Eh? If this thing happens it will truly be the "stock of the year", albeit, a year or 2 late.

[Bill Cara note: re "Stock of the Year"

The company was placed on my Preferred List -- as in prefer not to deal with -- immediately after the promoters behind this company parted ways with professional management and the auditors. With high-risk penny stocks, you put your money on the jockey after sizing the prospects of the horse. Today with Crystallex, you now have the owner and the trainer sitting together in the saddle, and the sad results are to be expected.]

Posted by: shark_attack at May 12, 2008 9:00 AM [link]

shark,
KRY: I kept my shares for a long time hoping for the permit, but was lighening up on kRY during the pump and dump highs recently. I sold the last batch at .94 on April 30.
Cramer was right about KRY from the beginning.

Will not buy KRY or GRZ ever.
I am now loaded up with WGW/ECU/UXG/VALGF all underwater
.

[Bill Cara note: Actually, Cramer recommended KRY and I said I was selling. Then I changed my mind after meeting professional management. Then Cramer said he was recommending a sale. Not long after that, the promoters decided to terminate professional management and I pulled out. The issue is that somebody will eventually develop that phenomenal gold resource. Depending on whether or not you are in or out of the room with Pres. Chavez, I suppose you know the answer. Unfortunately, I don't.]

Posted by: JogyP at May 12, 2008 9:08 PM [link]

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