Re: BEFORE YOU GET ALL BENT OUT OF SHAPE / no_bear / help

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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vlada_mexico

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Re: BEFORE YOU GET ALL BENT OUT OF SHAPE / no_bear / help

in response to

BEFORE YOU GET ALL BENT OUT OF SHAPE

KENTUNDERBERG

posted on May 16, 2009 03:19PM

Boss,

You're right, we'll make a PROFIT, but according to my calculations, it will be approximately 28% to 30% LESS than if KRY was allowed to SELL GOLD ON THE OPEN SPOT MARKET.

This is assuming that the Black Market or iNTERNATIONAL Exchange Rate is 3,000 Bolivars to the US Dollar, versus the official Venezuelan Central Bank rate of 2,150 Bolivars to the Dollar.

no_bear,

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?

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