Re: SP and chances for bankruptcy
in response to
by
posted on
Jun 20, 2011 11:08AM
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
I don't disagree with what you are saying about BK but i doubt the bond holders would want to fight over the scraps now when there is still a good chance they can be paid 100% and a large bonus.
As far as VZ not paying I don't think that is going to happen they have paid so far and will pay the large oil company awards about to come down the pike. GRZ is up on speculation that they will pay or settle. I agree with ever who wrote over the weekend that while GRZ is a good property Las Cristina's is the property where you would want to mine first. I think VZ will settle with both and move on. Maybe we showed no flexability in our reasonable number so they are beating us into submission until we take some lower range of reasonable offer. I think the law suit is good collateral to get some type of loan even if it at a totally unreasonable price. Basically i think we will avoid bankruptcy but take a real dilutive hit.