a look back, a look forward.
posted on
Feb 25, 2012 09:27AM
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
the following is an excerpt from a post by one of our well known longs from february 2011. i wont mention names because that is not important. what is important is where does our "primary binding agreement" come into play now??
Take a look at the 'post period' provisions. China isn't going to dump Crystallex, turn around and do a deal with Venezuela. Look at the legal consequences pertaining to the Agreement. Look at the bigger macro-picture of China doing deals in Canada. China isn't going to let a state run entity conduct business in such a manner. China isn't going to commit financing to a project that has a high profile legal problem attached to it. No, my opinion rests with the relationship Bob Fung has with the Chinese, the need for CREC/CRRC to work through this legal situation by resolving the matter with Crystallex and to put together a JV between CREC/CRRC and Venezuela.