Welcome to the Crystallex HUB on AGORACOM

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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Message: Over-Subscribed, Over-Bought, Frustrations, Touchy

Reading a lot of frustration going on among the posts. Suggest everyone not be so touchy.

Just like the consensus seems to be that the Company's woes are due to Chavez, it appears that shareholder's woes might be attributed to the way the Company communicates - always with careful wording and many times with ommission of appropriate information to assist and allow shareholders/investors to make an informed decision. This forces others to pick up the ball and rumors to fly. Depending on how one reads a Company PR, there are those that are optimistic, while other shareholders fear becoming stuckholders.

Granted, this offering by the Company could be considered as more complicated than what might be considered a normal offering. However, the Company is well aware of the terms. In other offerings the interest rate and specific number of option/convertibles per unit, or at the very least, some sort of range of interest and amount of options/convertibles, is disclosed. Along with other key items (such as award percentage, or a range of it) would usually be something such as the following pulled from another mining outfit in their recent offering: "... investors will also have the option, exercisable in whole or in part at any time up to 30 days after the closing of the Offering, to purchase up to an additional 15% of the Units of the Company. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the Offering will be $xx,xxx,xxx... ."

Something like the above in Crystallex' offering PR would let shareholders know that the Company is ready and willing to "over-subscribe" without trouble or delay, and give interested investors and long-time shareholders confidence in holding on for the ride. But that is the past. "Over-subscribed," or "over-sold," or whatever it is called really does not matter. As long as the bond holders are paid by Dec23, it's all good.

Any news coming out, to best help shareholders, should be on a late Sunday or early Monday. Fridays are reserved for bad news so it is buried over the weekend. At least fundamentally.

Hang in There, and Good Luck to All

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