Sorry EZ
posted on
Aug 06, 2010 07:38PM
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
"So what's the chance of an After Hours announcement today??"
Sorry EZ. But when I wrote on Aug 3rd that I thought there was a 1% chance of an announcement……… it turns out I was 100% right. Here we sit, one week after the "deadline", and nothing positive. Nothing terribly negative but nothing really positive either. Just more waiting with the stock still sitting at 40 cents.
I stand by my position that, when it comes to KRY/Las Cristinas, and anything related to Venezuela, there are no deadlines or timetables you can count on. And that’s true with or without the Chinese involved. I believe that's our past and that's our future.
I stand by my position that as long as Las Cristinas is in Ven and controlled by Chavez, KRY will always be deeply discounted.
I stand by my position that if and when a permit comes KRY will NOT skyrocket and TV money gurus will NOT jump on the bandwagon. They’ve been burned too many times before. They may talk about KRY if we get the promised permit but I’d expect them to tell their followers to be very wary of investing in Ven even with all the ounces at Las Cristinas.
I stand by my position that there will not be a feeding frenzy for this stock because there’s too much reliable easier money to be made outside of Ven. The only time there was ever a “feeding frenzy” for this stock was when Jim Cramer pumped it on TV and radio. But that was a long time ago and too many promises and predictions never came true for him to do that again and Chavez was much less of a public idiot back then. Back when Cramer pumped the stock people actually thought Chavez was more interested in profits and jobs than in international politics. Now we all, sadly, know better. Chavez is all about the glory of Chavez and not gold in the ground.
I stand by my position that this proposed JV is not a done deal and that many things can still go wrong without a guarantee of success.
I stand by my position that just because the Chinese are involved that doesn’t guarantee a permit. Even the Chinese sometimes get involved in projects that, for whatever reason, go bust. Las Cristinas could be another one. I’m not saying it will. I’m just saying it could.
I stand by my position that no one should be investing in KRY, or any other stock, even at these low prices, if they can not afford to completely lose every dollar they invest.
I stand by my position that KRY WILL be higher than 40 cents someday, maybe soon, but I doubt it will pass $4 this year. Someday, I think it will creep up there but not anytime soon. Which is why I continue to be realistically optimistic enough to still hold my 300,000 shares.
I’d LOVE to be wrong this time.....but so far I've been more right than wrong.
Go ahead. Shoot the messenger if you must but 13 years with this stock made me predict that the "deadline" would come and go without our hopes being met.
So...we.......I.....still wait.
Cividale