Welcome to the Crystallex HUB on AGORACOM

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

Free
Message: Re: Thoughts on Current CCAA Situation

Started this thread because of my concerns after completely reading the most recent Monitor report and the motions in their entirety (except, of course, the confidential Fung affidavit). I have also read everything disclosed by the Monitor since this Crystallex CCAA Circus started.

I believe your cash burn concern is valid, and the company will go back to the trough in the near future. That timer continues ticking down and the "bomb" will go off regardless of whatever judgement Newbould makes determining the path Crystallex will take in this CCAA.

I cannot find anything in any paragraph of Monitor Report Eight referencing or implying that Crystallex and Ven are, or ever have been, in any sort of negotiations for an early settlement.

On FinKid's numbers - they appear as a reasonable minimum considering the assumptions. I do not agree with the one assumption that must be made - that the company will scuttle itself or a special dividend will be distributed. News of an award or collection might see SP rise to about 90% of award. I believe, and strongly suggest, shareholders should take whatever they can when SP rises on award news to cash out, and not look back. Waiting for Crystallex-Tenor to decide what to do with the spoils, at that point, is significantly more risky than waiting through this arbitration.

Share
New Message
Please login to post a reply