http://seekingalpha.com/symbol/kry?author=mark-turner
Crystallex's Las Cristinas Permit Virtually Granted
by: Mark Turner June 14, 2007 | about stocks: KRY
With the virtual granting of its now famous environmental impact permit, Crystallex ( KRY) can at last get on with the serious job of building a gold mine. Whatever may happen in the future at Las Cristinas, we hope that, however overdue the permit may seem to be in the eyes of many, KRY management pop a few champagne corks tonight and celebrate the achievement, especially the investor relations department at KRY; the ever-patient Richard Marshall is a credit to his profession. As for the loyal longs, the shareholders that CEO Thompson called “the greatest shareholders in the world” have been rewarded for their patience. Unashamedly guilty of having "fallen in love with a stock", having suffered a seemingly interminable wait and having withstood innumerable and often anonymous barbs about “their company” over the years, they should also allow themselves a moment to celebrate.
All that said, we recommend finding a price and taking profits on KRY at this point. However, those who do so should wish every fortune to those who remain long.
Disclosure: none
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 Mark Turner
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With all due respect to Mark, the title of the article is false. According to the press release (www.marketwire.com/2.0...), "The CVG confirmed that the approval of the EIS, the posting of the bond and the payment of the taxes represent the final and conclusive step in the procedure for the issuance of the Environmental permit to construct the Las Cristinas Project." Thus, Crystallex has completed their end of the deal, but the permit has not yet been issued. I am not saying this to knock the price down, as I have no long or short position and actually thought about picking up some shares on the news for a quick momentum trade, but upon further review of the press release, they still do not have the permit. I am not posturing on the time that will lapse before they receive it, but based on the wording in the press release, they still do not have the permit. If they did have it, they simply would've said they received the permit, instead of saying they completed the final steps to required for the issuance of the permit.
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please note the word "virtual"
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I am noting that and while it may seem trivial to get into semantics, it really has boiled down to that with KRY. Suppose someone loosely follows KRY, types in the symbol here and sees the top article saying "Permit Granted" in the title, they could very easily go and buy shares based off of that. I would hope someone would not buy a stock based off of an article title, but if they bought shares and then the Venezuelan government comes out two weeks from now saying "despite Cystallex's best efforts in fulfilling the steps, we have decided we will continue to withhold the permit" then you have a liability on your hands. Again, I am not speculating on the timing of permit issuance, or whether or not it will happen, just the fact that that is a dangerous title for the article to have.
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