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Gold/Mining/Energy : Crystallex (KRY)
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To: Michael Bakunin who wrote (10820)9/22/2005 2:53:12 PM
From: Syncrude  Read Replies (1) of 10836
 
I agree, even the hired help could get fired. If I remember correctly, the contract has a deadline for start of operations. If that date passes or if an extension is not mutually arrived at, there is a big risk of cancellation. It would have been more useful for the Company to update its shareholders on this important aspect, instead of the yearly 'all is well' broken record.

Crystallex has a string of failed ventures and has no back up properties to protect its shareholders. It has bet the farm, while management has pocketed fees, large salaries and bonuses over the years.

Of course insiders hold so few shares that they have never felt the pain of common shareholders.

I doubt that Chavez can stay in power very long as he has simply not delivered on his promises to the population of Venezuela. His leftist orientation will sink the country even deeper if he continues to alienate foreign capital.

While the country has (heavy) oil it still depends on technology that must be sourced from foreign countries/companies.
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