Re: Assurances/digruntle...
in response to
by
posted on
Aug 27, 2010 06:07PM
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
Kilo,
My response is to this part of your post: "I also think that perhaps the company wants more completed prior to a shareholder vote. "
What do you mean by more?
The steps per the binding agreement:
1. A&F Agreement
2. Shareholder approval
3. Closing (permit included)
1. Agreements: Note Facility, Voting Rights, Equity participation, joint venture. Additional actions Construction guarantee, JV company setup or unincorporated jv, and updated confidential cost report.
2. Mailings, shareholder vote
3. Permit & MOC reassignment.
Number 1 was targeted for 7/31 and certainly is the bulk of what is required regarding work from Crystallex and CRRC/CREC.
Number 2 is going to be a summary of #1 (mailings).
Number 3 is for the Venezuelans to complete. They can't assign a contract until it is a legal entity. Whether the actual permit is being worked on is anyone's guess. (unless someone found the supposed done n dusted copy and all is necessary is changing the cover page)
The order is the order.
However, you are supported with the recent filing that all aspects are being pursued and "underway". My confidence will be increased significantly once the A&F aka definitive agreement is signed.
It does make sense to work on 2 and 3 as long as it is not taking away from 1, otherwise, it seems a bit cart before the horse type of thing.