Re: i hate to state the obvious, but...
in response to
by
posted on
Mar 22, 2012 11:43PM
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
What this does do is create an environment for management and Tenor to settle quickly for a smaller payout than most here would imagine. At 600 million Tenor gets 210 million for putting up 36 million plus that bridge loan payback plus the interest in the meantime. That's a 5-6 banger in 2-3 years at most. Venezuela could be enticed to pay that amount probably sooner or the Chinese conglomerate that has been hired to process the mine. This could get ugly for us as shareholders as the trustee would be considering the fact that we should be so lucky to even get a dime back of our money. In the back of his mind he would be considering the fact that shareholders normally get pennies on the dollar in bankruptcy. He will probably bite his tongue and give Fung his 10%. Maybe the trustee is getting a cut too. hahahahahahahahahahahahahahahahahahahaha....