Welcome to the Crystallex HUB on AGORACOM

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: Buy the news...sell the rumor?
2
Jul 05, 2010 06:43PM

For the sake of negotiations, the price is being held down?


The deal we have with CRRC is to collaborate on any announcements before they are made.

What I would say about this..........

In the past the Venezuelan Govt has accused the markets of manipulating KRY news and jacking the stock price, (We have been accused of many evil things, this just being one of many). The fight between Chavez socialist mantra / free market is still ongoing, IMO. What that means is we can make money but we can't revel about it, as Chavez wants to look like a big winner over capitalist ideology. CRRC gives Chavez a big opportunity to make this deal look that way. The end of July timeframe schedule is close enough to September- Chavez can spin it up until the elections and also good timing for our shareholder vote. So, having said all this, I do not expect to hear much until an agreement is finalized. Sure, it would be nice to get a few snippets but I figure CRRC wants all the necessary permissions in hand before we hear more, and I will wait for that, definetly not for the faint of heart........

What one might also expect to see is some volume building caused by leakage at some point, hopefully to the upside, but this might be constrained by investors memories of the MM's sell into the bought financing deal. Even though this stock has been beat upon I think there always will be speculators lurking to try to catch profits, and since the volume has been low and the price holding around .40 US, even slight volume increases with a small bump in the price should not go unnoticed. There was 50K shares on the ask before the close @.375, buying interest? Was todays late stock movement manipulation on low volume or just a delayed reaction the morning gold selloff? IMO if we can just get above .45 US..........

While gold was selling off, today's silver futures were higher supporting a possible bottom in the overall market, or just another short term oversold rally building in the bear market, depending on your own views...........

Anyway just some thoughts in the absence of real news.

And I am pessimistically optimistic. :) Go KRY!

Hondo.

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