Re: What I Believe EZ

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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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brundoggie

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Re: What I Believe EZ

in response to

Re: What I Believe EZ

no_bear

posted on Oct 04, 2011 02:42PM

No bear,

Can you give an explanation what would happen under the following scenario.

1. The ICSID case does start soon, before the bonds are due.

2. KRY does not find the money for refinancing the bonds.

I guess my thinking is, KRY files for bankruptcy protection, which will buy us more time in the ICSID case. If this is a valid possibility, then the bond holders will have to wait for the ICSID payment (they get the first $100 million, plus additional interest) and we don't need to worry about the refinance.