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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: Sunk Cost
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Sunk Cost
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RedRock
Jun 07, 2010 12:00PM
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jimmijazz
Jun 07, 2010 12:03PM
Re: Sunk Cost
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RedRock
Jun 07, 2010 12:11PM

Logically, CRRC should pay at least $200 million up front to Crystallex upon all approvals from VZ.

Dilution should not have to take place to pay noteholders or to have operating cash.

The biggest questions to me.

1. How to settle noteholders? As the pr is stated, dilution will not satisfy bondholders but just cover a chunk of it.

2. How is the capex of $300 million already spent being treated. Also, what about the other $200 million spent?

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