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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: Re: Rayzz...in case you missed the memo
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Feb 08, 2010 02:47PM
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Feb 08, 2010 02:52PM

Dparge, the issue of how much money Kry has and the burn rate needed to be addressed by management because it was a constant question being asked by shareholders. Fung addressed it at the 2009 AGM and RM had discussed it many times since. Stating Kry has X amount of cash on hand and X amount of assets is part of any financial disclosure.

Kry didn't say how they planned to move forward financing the company but they did say they had more than one option. The told us they were looking at a method that would cause very little dilution if any.

The example you use "it devalues everything they say when they make comments that aren't true (shortly after Easter, etc)." is one one the reasons management is using to stay tight lipped. These same statements are being used in the court case if I'm not mistaken.

The safest route for management is to say nothing till they have something factual. The point you are making is valid but the problem is that questions are being asked by persons who may not fit your model.

The point I was trying to make was that Kry isn't weeks away from filing for BK and to suggest other wise is misleading. This would be the same thing as saying your going BK because you have a $500000 mortgage and only $20000 in your account the payments come out of. This only happens if you don't address the payment account situation before the money runs out. You will sell some of your classic car collection to make the payments but you want to wait till you absolutely have to.

Probably not the best analogy but I hate typing and it was quick.

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Feb 08, 2010 03:56PM
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