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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: Fung's Carefully Chosen Words!

Fung's Carefully Chosen Words!

posted on Jun 25, 2009 02:55PM

Just listened to the entire AGM Fung report and answers to ? and came away with 2 telling statements. When asked if the Permit was still possible and/or what was VZ's focus, he would only say VZ is giving and indication they wanted to resolve the issue to everyones satisfaction and later that VZ wanted to resove LC quickly. 2. When asked of the disparity of KRY $2B+ vs GRZ $5B, he stated KRY's 17mm oz at $100/oz = $1.7B +costs energy etc.(did not make sense) - I suspect he was adding the $350mm already invested. (there was no expense allocation for building the mine).

It seems very obvious that VZ will buy Kry out and as others here have proposed, the Loan VZ is negotiating(the gold as collateral), is the method of payment to buy KRY out. Fung also said he would like to see LC settled yesterday. The writings on the wall folks and it appears things will take place soon. Back up the truck and load up.

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