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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: CCAA Filing Q & A
To me, this means that the company will now be sidelined (not bankruptcy) while we will wait for a) to get financing to pay the debtor in full + some interest that accumulated the waiting period, or b) we will wait for the legal claim outcome to settlement and the end of that will potentially be 2-3 years later. Although it said the company has no interest on alternative exchange at this point, it didn't say that they will not reconsider when liquidity concern is over. To me that means, we are actually expense cutting during the waiting period, which is a good thing. Let me know your thoughts, and are we sharing the same view? Overall, I think this is a very good end. First, the management is not selling us to accept an insane PP so they tried their best to protect shareholder value. Second, they do not allow the current note holder to liquidate and take control of the company so the management who represents the shareholder is still in the driving seat of the process. The only draw back is it comes with the expense that it requires us to be patient for the next 3 years at most. But as long as investment time horizon is not as much a concern to us then we are in good shape in receiving a fair compensation for the long wait since 2008. To me, if we waited three years why not three more years that we know we have a good case on hands. We might have only one asset but this asset is a lot of money. Anyone has the same view?
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