Re: My View
in response to
by
posted on
Nov 12, 2009 02:43AM
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
I keep seeing posters saying .why? why? why? re filing for arb. There are just two things to keep in mind.
1. Management is well aware of everything posters have been surmising, PLUS they know what has/is going on, that we don't. If it was as hopeless as many seem to believe, then it makes sense that they would obviously file for Arb. They would, as many have said, be cognisant of the money situation. The fact that they have not filed, HAS TO MEAN THAT SOMETHING IS~BEING WORKED ON.....Surely people don't think KRY is simpley keeping this going in order to collect wages? Management would never get another job on any board if that was found out.........which brings me to the second point.
2. If Chavez could have found a way to cancel the MOC he would have done so by now. He's had what, at least a couple years to have his lawyers work on SOME excuse, ANYTHING. He's nationalized so many companies and taken resources and equipment without bating an eye. Many say he has been down of KRY for a long time. So why has he not taken LC away? Why has he not invented a reason to cancel the MOC?......This IS the 'mother of all deposits'. What's stopping him?
Everyone agrees that he is a slimmy son of a gun. No one would put it past him to sieze LC. Yet he has not done so. So there has to be a very powerful reason for this.
Me? I still believe one reason is because Chavez wants/needs to have joint ventures with foriegn companies, and that involves contracts. He will not have a chance in hell in getting anyone to sign a contract with VZ, if he cancels the contract of a Canadian company who has MORE than followed the letter of the MOC, and has been exceptionally patient with the government, and has NOT gone the way of Arbitration.
Russia has signed deals, has a treaty clause, both the same as KRY. What would they think if Chavez was so blaize about cancelling an MOC, and thumbing his finger at a bilateral treaty?
We know that Crystallex has gone this far with this crazy country and it's President. They haven't backed down, they haven't been intimidated to leave, or file, or 'blink'.
Lets continue to give Fung the benefit of the doubt. He's waiting for Chavez to blink.
I really highly doubt that, in a situation as high profile as this, that management would blatantly keep this going simpley to cash in on wages.......I do believe that Robert Fung cares about his reputation, and us, ( believe it or not )
P