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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: BIT, Polyus and KRY

Where did this notion come from that they couldn't claim the full scope of the contract and that it would be based on the initial mine plan without taking into consideration that it's a flexible changeable document.

I've discussed this with a few legal minds who agree on this matter. And just do the math. Fung stated in public $2B in arbitration. KRY's mine plan calls for 252K ounces a year. 252K x 20 year contract (and that is not taking in to account 2 years for construction) = 5M ounces of gold mined.

5M ounces of gold mined x $650 profit per ounce = $3.25B.

3.25B x 60% (which is KRY's share after taxes and royalties) = $1.95B.

This matches Fung's statement almost perfectly. Do you think that if KRY had the ability to make a claim on all 17M ounces which would calculate to a claim over $6B that Fung would shoot so far under that and say $2B in public? No way. Fung threw out a number that he believes is at the top of the range. This will get settled for less than that if there isn't a buyout first which I believe there will be so this conversation probably doesn't even need to go any further.

Claims are based on facts, not what ifs.

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