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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: Memorandum Order

May 25, 2024 01:10AM

There are 2 items in the memorandum that stood out to me (Tried to copy/paste but doesn't work)

1. "Adrianza has again failed to show...." stating he, as a shareholder (means us too) "...has sufficient interest in this action). I am not sure what Stark is getting to here, but it might mean that in this action shareholders did not put out a dime for this costly litigation. Shareholders put out a lot of money at the beginning but nothing in this action. And this court is focused in getting money out of Vz. alter ego

2. "Additionally... failed to show that Crystallex inadequately represent Adrianza's..." (means us too)  "...interests in this action...". "BOTH are interested in maximizing ... recovery..."

I emphasize BOTH because Stark has all shareholders in mind for recovery ("...chances...") in this judgement. So there is definitely money going to shareholders. The amount is eventuall going to be a number, but it will be some time before it is all crunched out. That work will only start when the auction is completed, if so. I wouldn't be surprised if even Tenor know the exact amount yet. I have a number with a reasonable variance in mind, at 12%, which I have posted years ago and still stick by that. 

It will be an interesting 2 months watching the back-and-forth.

Keep us posted iffy. Good links.

 

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May 25, 2024 10:23PM

May 26, 2024 06:59AM
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