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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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Message: Re: Cemex settled
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Dec 01, 2011 09:10AM
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Dec 01, 2011 09:16AM
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Dec 01, 2011 09:37AM
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Dec 01, 2011 09:44AM
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Dec 01, 2011 11:25AM

Without getting anyone's hopes up and making sure the disclaimer is out there that Kry may not be able to get new financing lets use the Cemex award as an example.

The settlement was for about half of the asking award. We have a couple big oil awards to come down supposedly before year end to also use as a benchmark even though each case is different.

Even using 20% interest for 3 years on $120 million of new debt and a 49% bonus of our award, Kry should be left with around 900 million after costs based on a 2 billion dollar award which is about half our asking price.

Before anyone says why use a figure that is actually more than half I have also looked at the numbers for using 1.5 billion which is less than half which still gives Kry approximately $650 million after costs.

With a current share base close to 400 million you decide if the gamble to stick it out is worth it.

Don't get me wrong, we are still getting screwed big time by both VZ and the new debt holders but given our options with the 23rd coming fast I'll take my lumps and say thank you.

JJ

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Dec 01, 2011 11:54AM
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Dec 01, 2011 12:13PM
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Dec 01, 2011 12:27PM
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