If I was Fung.

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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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If I was Fung.

posted on May 22, 2009 07:18AM

If there was no deal currently in the works I would file for arbitaration on May 28th. I would plan to sell the mining equipment to pay off the bond holders and hopefully get some extra cash for the lawyers. At this point in time I would stop all discussions with Venzuela and let the courts decide. I would feel much more comfortable dealing with the ICSID than I would dealing with the corrupt Venzuela goverment. Because who knows what can happen once the Venzuelain goverment offers a permit, maybe they decided to take over the mine later on. With the ICSID we may actually receive true value for our shares, rather than the Hugo discount. I personally can wait two years for a decision, and it certainly will not be the roller coaster ride.