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: Sloopskipper
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Nov 28, 2011 09:12PM
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Nov 29, 2011 08:36AM

If Germany couldn't sell their bonds, how could this nearly bankrupt expect to do better?

Let me respond to your statement above enroute back to Canada. Germany did sell their bonds. The low yielding 2 % bonds were taken up by the market and the German central bank. What was unusual was that the ultra low yields, which originally attract market interest required the central bank to intervene. A 30 bpts increase in the yield would not have required intervention. What this has to do with Crystallex is frankly mind numbing. A 20 % pa interest rate and a straight CVR payout basis ICSID award/cash settlement has nothing of any comparison to do with German bonds. The Company is not bankrupt nor does it intend to be. Yesterday determined the market size (Dollars) of the new note interest for KRY with expected signed document closing this Friday with definitive closing (ie: money in the bank Dec.9) a combination of new investors, old note holders rolling over paper will, it is expected, to be sufficient to reach the $ 120 million target in a very complicated and unusual private placement, one that has not been done in the market since the 1970's.

Anyway, I have to fly now, but honestly Sloopskipper why you continue to throw out these statements is beyond me. Lol.

Teutracker

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