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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: Understanding the future outcome for Crystallex

Just received an email from RM lamenting the excessive cash burn rate caused by the actions of the note holders.

He says the remainder of the DIP should see us through 2013 and into 2014. He didn't say how far into 2014 it could last.

The company is counting on the 11/23/2013 Hearing date, because:

Each Icsid panel/tribunal and case has its own timeline and path and thus any decision and award timeline is difficult to predict. We saw one case recently that had a hearing and Decision issued within 60 days of the Hearing.


It is expected that access to capital and cost of capital may be very different post the Hearing and in a Decision/Award or collection phase. Additionally, the track record of Venezuela demonstrates their propensity to settle cases of merit, mitigating their risk and liability.


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