Attended AGM

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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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jimmijazz

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Attended AGM

posted on Jun 22, 2011 01:41PM

I was there and it wasn't pretty.

Pastry, fruit and other stuff to munch on. Cranberry, orange and apple juice as well as water and coffee.

Official part of meeting was short. Election of same guys but Reverse split didn't pass. Nothing new but some explanation of the arb process. Looks like 3 years to the end if we make it that far.

RF was looking like he would rather be anywhere else. He avoided many questions with little information.

I did end up leaving with a sense they did have something in the works but no checks in the bank. Most of the following is my impressions of what wasn't said.

RF and CRRC/CREC were lied to by Chavez and the Chinese aren't happy about. RF said CREC/CRRC are continuing discussions with VZ wanting to mine LC. RF said he speaks to the Chinese weekly but said it wasn't about the talks between CRRC and VZ. I believe RF knows exactly what is being discussed. I believe if CRRC/CREC end up getting LC to mine Kry will end up with a settlement.

I believe Kry will make a deal with someone to finance arbitration and pay off the noteholders but the cost will be high. Getting back our $500,000 investment now might reap better rewards for current shareholders.