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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: Waiting Game

Waiting Game

posted on Dec 14, 2007 07:45AM

  Unfortunately, what this most recent article does is tell investors to say away from this stock until 2008.

   I think we have been on and will continue to be on a bumpy road until the new year.  At times like this it is important to remain focused and look at the long term horizon. The major reason for KRY to be down is the uncertainly surrounding Venezuela Mining policies. I think we can all agree that this quagmire can only get clearer as time passes. The passes of the new mining law, and the receipt of the final permit will go along way to clarifying this situation.

  Hence, I am waiting to add to my position once we see some type of bottom in this stock. A bottom I think will occur when we have 3-5 days of very little stock movement. I am just wondering when the selling will stop. I can not imagine anyone is in a positive position in this stock, and therefore this selling must be for tax loss.  I have decided not to sell for tax loss, since it goes against my plan for this stock.  Which is to hold until the permit. I know it will be a bumpy ride, however I don't look at this stock very much.

  A couple things I can't understand is why GRZ is holding up so well. The only difference is the order in which they went through the permitting process. The one reason I think GRZ is holding up so well is the result of their last finacing offer, which will help them build a mine when their permit comes.

  Btw, fidelity used to be a major institutional holding in KRY, and now barely has a position.

  JMHO

 

 

  

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