Re: BIT, Polyus and KRY
in response to
by
posted on
Sep 20, 2009 09:48PM
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
You are right, the contract would give them every right to every ounce IF their mine plan called for it. But it doesn't. The one that was put forth by KRY and accepted by VZ is not aggressive enough to mine all 20M ounces over the life of the contract. Therefore it is common sense that you can only claim lost profits on what you planned on mining. How could you make an argument in court that you planned on mining all 20M ounces when the plan you submitted would fall well short of that? In any event, we are still talking billions and even after paying off the noteholders there is still over a few bucks a share left. Let's just hope we see it soon. I'm in Tuet's camp on the Russians stepping in and paying off KRY on behalf of VZ.