Re: Arbitration
in response to
by
posted on
Dec 10, 2009 12:32PM
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
Hi Rayzz. With that comment I guess the contract is hogwash. I'm not making any predictions here. It is in plain english in the force majeure section of the contract and as well as the contract that CVG has with Vz itself, which Kry has admitted could affect the Kry contract. All Vz has to do is make a law or decree and the contract is toast. It's in the contract and Kry signed it. That's all I'm saying.
Will it happen that way? Who knows but is a real possibility as this drags on. They took this LC deposit from Placer/Vannessa with a decree. I wonder if the Placer/Vz agreement had a provision in there allowing such things.
Bottom line, kry agreed to this provision. How it all plays out time will tell.