I don't follow KRY, alan, back in January I was following the thread, but junior golds are a minor sideline for me......wish I'd bought some, but it seemed pretty iffy with the Las Cristinas thing, and after my own experiences with Latin American courts, I figured I'd stay out of it unless I drank with the judge......and maybe even then....
Midland covers Placer, though, and they seem to believe that Placer could lose L.C., they allow the possibility, that's all, when they count up the NAV. Here's a bit of a paste from the fourth of March out of Midland's research (they shouldn't mind me pasting it, it's so old now);
Crystallex acquired the concession by purchasing a corporation (from a
Venezuelan) which has been disputing the ownership of these two claims.
Crystallex is claiming that several Venezuelan Supreme Court rulings in
1991 and 1996 confirmed its ownership in Las Cristinas. In their defence,
Placer Dome and CVG reiterated their rights over Las Cristinas are secure.
They stated that the Supreme Court decisions dealt solely with technical
procedural issues and not with the substantive question of title. The
issues before the Supreme Court dealt with interim assignments of prior
concessions made in 1987. Subsequently, one of the original concessions
that was involved in the Supreme Court decision 'effectively expired in
1989 (due to not fulfilling property work commitments) while the other was
revoked by the Ministry of Energy and Mines in the same year. In 1991, the
rights to Cristinas were granted to CVG which struck a joint venture with
Placer Dome in 1992. Placer and CVG hold that the facts that occurred after
1987 were not relevant to the Supreme Court decision, then these facts
(title) were not before the court.
..................................................................
A glance at the chart for KRY just now makes me think it would have to have pretty outstanding fundamentals to buy in now, if I had any I'd be taking profits without a real good story...... |
