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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: Remains in a process..or...May have Legs!

Remains in a process..or...May have Legs!

posted on Oct 09, 2009 08:30PM

A great email from brundoggie today with questions to RM on our status; RM has to be very careful what he says and follows SEC quidelines and updates shareholders on any material changes (ie. permit as an example) with quarterly filings, MD&A and press releases. And it is possible that he may not have any information regarding timing nor potential resolutions/solutions to our issue and just not have any additional comments to add.

However, we do occasionally receive communications from management that does hint at some other message within a message that could be present. (Yes it is very subjective so please take as such.) So what am I saying? This is part of an email I received from RM this morning:

"Hello Mr. XXXX. The Company remains in a process and being that an IA Claim has not yet been filed it should suggest that the belief that this process, seeking a prudent and more timely resolution/solution to the Las Cristinas Dispute/Saga, may have legs. "

I have said in the past that I do have hope that something is in the works, but at the same time I have indicated that my expectations are none. I am attempting to remove the emotion from this play (not very easy) so I can stand back and get an objective opinion on how to best play this out. Hopefully I am objective making objective reasoning from communication that I do get from RM and others as we advance this forward. Therefore, please take my reasoning as surmised above with caution.

Finally, I do share the concern about our current cash situation and this is what has been said by RM: (I get that they are aware of future cash requirements)

"The Company is aware of its working capital needs, working capital position and cognizant of potential shareholder dilution and expects to improve working capital."

It Thanks Giving for us in Canada this weekend so all have a great weekend and stay safe and happy; for our southern friends enjoy your long weekend too so lets all take a well deserved break from KRY and VZ. It will be there for us all on Tuesday. Talk to soon.

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