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Gold/Mining/Energy : Crystallex (KRY)
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To: david who wrote (5432)2/18/1998 2:36:00 PM
From: Walter Kalin  Read Replies (3) of 10836
 
Thanks for info on the court system in Ven. I spoke with the CEO of TSO(Rick Clark) a few weeks ago. He is also the director of a no. of mining cos. TSO also has a property in Ven and has the rights to LC 5&7 under similar circumstances as KRY. I asked him if they would go after LC 5&7 and he told me the following:
He doubts KRY has any chance of winning. He said he has spoken with lawyer in Ven., gov't officials , the mining dept. and nobody gives KRY a chance of winning. Further, Mr. Clark is a lawyer and a geologist and understands the case inside out. He says KRY is misleading alot of investors into thinking the case is going to be settled quickly. The court is still deciding whether to hear the case. If they decide to hear it, he expects it to take over a year. He hopes KRY wins because that would be great for his co. However, he is still saying no chance.

Second point against KRY. My neighbor knows a director at WTC. He told him not to buy KRY as he knows the top people at PDG and he is 100% sure KRY will lose. I cannot comment why.

Third point against KRY. I know of a shorter in the US that has a large short position on KRY. He never covered when KRY dropped to 4.30. He said he is positive KRY is going to under $1.

Fourth point against KRY. We hear all sorts of rumours about Albino having 2 MIO and Brazil having 2 MIO....etc... I spoke with a geologist that looked at the drill results and he said max of 0.5 MIO that would be economic for Albino.

Fifth point against KRY. Neil Maedel, another newsletter writer called KRY a well greased promo machine. He visited Ven. and talked to all sorts of gov't people down there.

Point one for KRY. Bishop is fairly certain KRY will win based on Roy Carson info and other sources. A friend of mine talks to him on a regular basis.

Point two. Many other newsletter writers also think KRY will win.

Point three. Lots of powerful people on the KRY board.

Both lists can go on and on.

IMO if KRY wins its going to $CAD 15 to 20. If it has to goto to trial for another year(like you and Clark are saying) it will fall to under $CAD 4. If KRY loses it will be under $CAD 1 (because Albino and their other properties are not worth $CAD 0.50) Short covering will keep it close to $CAD 1. I know of plenty of good companies with better properties trading at lot less than $CAD 0.50 market cap of KRY.

I also think its unfair that people put down PDG. KRY is taking the Ven. gov't to court and not PDG.

It's your decision what you do with KRY. I wish you all the best of luck.
WK
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