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Gold/Mining/Energy : Crystallex (KRY)
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To: Moot who wrote (6919)4/9/1998 8:09:00 PM
From: E. Charters  Read Replies (2) of 10836
 
To your concerns. The Supreme Court has addressed these. They said in
1991, 1995 and 1997 that the transfers were valid. They were in the form of a power of Attorney of de Lemon. The MEM had other plans at the time for the property so there is NO REASON to doubt the document. (They did not find specific fault with the document, its validity was denied due to non-payment of taxes, a neat trick that the CSJ has denied the MEM) It has not been invalidated and is not likely to be unless in an entirely different detective story fraud is proved. No reason to presume, or doubt.

Concerning the waiving of rights. The dependent negotiation that the waiving was tied to did not taken place. I think Corredor has a point. If the waiving is tied to that negotiation and it is naught then the waiving is nought. Again the CSJ has found that this waiving did not prevent the RETURN of TITLE to Mael. (Remember title?)

Yes considerable research needs be done. The entire history must be considered. Taking it all from one side just won't do.

So what will be decided in this ruling by the court? The validity of Crystallex's surface mining rights on Concessions 4,5,6, and 7. And the validity of their deep mining rights on those concessions. That is all. 9.68 billion dollars (CDN) worth of Gold and considerable exploration potential beyond that. The second largest gold mine in North America, the Hollinger contained scarcely more than that. This makes the deposit the largest in South America and the Kilometre 88 district perhaps third behind the Homestake and Timmins, Ontario in contained ounces in the Americas.

A lot of people have asked me what this will do to the price of tiny Crystallex when they win the decision. It is hard to tell. I would think that the 20 to 25 dollar prices bandied about are rather conservative when all is taken into account. The profit on this gold is perhaps $50.00 per share if you double the number of shares that KRY has outstanding.

EC<:-}
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