Welcome to the Crystallex HUB on AGORACOM

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: Re: BEFORE YOU GET ALL BENT OUT OF SHAPE / no_bear / help
2
May 16, 2009 08:44PM

"The interesting question is, when KRY pays Expenses in Venezuela, which Exchange Rate is used to pay KRY Expenses in Venezuela and Internationally? I assume it would be the official Vz. Central Bank rate of 2,150?"

This probably got answered already, but there is no issue of exchange rate for any money spent in Venezuela. KRY would be paying wages, local suppliers, the government (taxes, etc) in bolivars.

The only issue with the exchange rate will be in the distant future: IF there is still a big official/non official exchange rate difference, IF Crystallex doesn't get a license to buy dollars at the official rate, IF Hugo is still around, etc., etc. In other words this line of speculation depends on the permit followed by a long series of events that make it VERY difficult to predict.

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