Re: The End Is Near--
in response to
by
posted on
Feb 13, 2011 12:22PM
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
osmo, my best guess is that the next PR to come out will be a curate's egg... Part good, part bad.
Just a feeling of mine, and not backed up by anything concrete, it will likely announce that the Chinese have gone their own way and that KRY is commencing arbitration proceedings against Venezuela.
If the announcement is reinforced with positive news that the bond holders are placated in some manner and that funds are available to support the arbitration effort, there could be a decent pop in the share price. If anyone can accurately time this there could be a good trade opportunity, as a firm announcement on arbitration would be a positive for the stock IMO. However the arbitration process is a long, fickle and expensive road to travel, and any announcement that doesn't tie up those loose ends might not have any lasting effect on the price.
It has always been my opinion that arbitration was going to be the only way to get some return out of this mess both for GRZ and KRY and I am on record for promoting that course of action for GRZ well in advance of their actual announcement to file with the ICSID.
The same applies for KRY IMO and while some here disagree, as is their right, I still feel that the shareholders would have been better served if arbitration had been initiated as soon as it was legally possible, rather than to continue to dice with corporate death in the minefield of Venezuelan politics...
Just my personal opinion, and yes I am looking at taking a position in KRY if and when the right announcement is forthcoming.